#labour-costs

#labour-costs

Today's figures are a stark warning: retail jobs have plunged to a record low with 97,000 jobs lost over the last year, and almost 400,000 lost over the last decade. The rising cost of NICs and NLW, together costing the industry over £5 billion this year, are hitting retail employment hard. And worse could be yet to come, with the Employment Rights Bill having a "materially negative impact on employment" according to the OBR.

The position remains the same, attempting to cover the vastly increased wage bill due to NIC rises, as well as other cost increases, without the ability to pass on to the customer, which has directly impacted recruitment and growth plans.