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Report: Labour Market Outlook

The latest labour market indicators highlighting recruitment, redundancy and pay intentions have been released by the Chartered Institute of Personnel and Development, in association with the Adecco Group.

Labour market outlook 7

Key findings:

  • Median basic pay expectations for the year ahead are two per cent. The report finds that there is unlikely to be significant upward pressure on wage growth in the near term.
  • About two-thirds of employers report that they have vacancies which are difficult to fill.
  • This quarter’s net employment balance – which measures the difference between the proportion of employers who expect to increase staff levels and those who expect to decrease them in the first quarter of 2018 – has decreased to +16 from +18 over the past three months.
  • The share of organisations that plan to increase their training investment is broadly similar to the proportion of organisations that plan to reduce it.

The survey is based on responses from 2,066 employers. It also considers the extent of hard-to-fill vacancies and how employers are attempting to tackle skill and labour shortages.