According to the latest UK Powerhouse report, the picture of the UK’s economy remains mixed.
Annual GDP growth in first three months of 2018 was at its lowest level for six years, whilst consumer spending fell to just 0.2%.
At the same time, the UK labour market recorded the joint highest employment rate since comparable records began in 1971 and unemployment in Q1 was at an all-time low since 1975.
Cambridge and Milton Keynes continue to perform well in terms of GVA growth in Q1 2018 and Oxford continues to demonstrate fast employment growth – but some Yorkshire cities are also showing promise, with Doncaster boasting the highest rate of start-ups across the UK.
With uncertainty appearing to be the recurring themes for our economy, the constantly changing economic environment can have a significant impact on organisations up and down the country. Job creation, for example, is undoubtedly a positive thing, but it also brings many HR challenges – particularly at a time when tribunal claims have increased by nearly 80%.
HR headaches are however just one area where businesses need help. Organisations face a raft of challenges, and as a leading law firm, we’d be delighted to work with you to ensure you tackle disruption in your industry head on.
To view the full report, click here.