The minimum wage rise announced for April is very substantial - likely to be twice inflation at that time. As a former @lpcminimumwage Commissioner, I always favoured a rising rate & experimenting with going farther. I’m also glad to see the adult rate return to 21, but… (1/) ..the firms affected by this rate are not big businesses in London and other major cities. They are primarily smaller businesses, selling to consumers, in rural and coastal communities. I am worried that we forget that. In sectors like hospitality, childcare, local shops.. (2/)

This morning’s @hmtreasury announcement on #OvercomingShortages in our labour market goes some way to meeting the challenge @RECPress set out last year. Our analysis showed that labour & skills shortages could cost the UK economy up to £39billion per year from 2024 (1/) That’s around the same as two Elizabeth Lines. So it is important that action is taken, particularly in childcare which can be a significant barrier to work for many families. The changes to UC for childcare are big and helpful. (2/)

Today, we publish our October @RECmembers data in the #ReportOnJobs, produced by @RECPress in partnership with @kpmguk and @SPGlobalPMI. Tl:dr, clear slowing of the market, but likely to be cooling of post-pandemic fizz, rather than a serious retrenchment at this stage. (1/) Permanent placements declined (45) for the first time in 21 months (Feb 2021), though the London market in the south (48.9) was appreciably stronger than other parts of the country. Worth remembering that this market has grown for two years - this is a drop from a high base. (2/)