“The latest ONS figures provide us with stark picture of the economic landscape. The UK’s unemployment rate has increased and job vacancies are falling as businesses show caution against continued uncertainty following economic pressures, such as the rise in national insurance costs and US tariffs.
“Business’s hesitancy to invest in growth is clear. Organisations are having to manage challenges just to stay focused on keeping the ship stable which is impacting on jobs and growth.
“But this comes with a note of caution. Business leaders need the confidence to invest in learning and upskilling their people, otherwise productivity levels will remain sluggish and UK competitiveness will tail back even further.
“All eyes will be on the Chancellor’s spending review tomorrow as we see where the government will focus its spending for the next three years. Business leaders will want to be provided with the confidence to get themselves into the best position to capitalise on growth opportunities, and ensure they are not only steadying the ship, but getting themselves ready to run full steam ahead when the time is right.”
