"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."
"As costs mount on the industry, retail jobs are falling by the wayside. Whether it is the additional complexity wrought by the Employment Rights Bill, or a new surtax on large retail premises, the impact of these policies will be to drive up prices and hold back retail employment. It vital that the Chancellor's Autumn Budget does not increase costs to the high street further,"
Retail employment totalled 2.73 million jobs in June 2025, with a four-quarter average of 2.78 million, 97,000 fewer than a year earlier and 393,000 fewer than in 2015. The four-quarter average comprised 1.28 million full-time jobs and 1.50 million part-time jobs. Full-time roles are down 133,000 over the decade, while part-time roles are down 258,000. Rising National Insurance contributions and the National Living Wage cost the industry over £5 billion this year and are reducing retail employment. The Employment Rights Bill and potential further cost rises at the Autumn Budget threaten additional job losses and higher consumer prices.
Read at London Business News | Londonlovesbusiness.com
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