The latest CIPD Labour Market Outlook report shows that employer confidence has fallen again this quarter, with the net employment balance dropping to the lowest recorded outside the pandemic. Hiring intentions have weakened, and one in four employers now plan redundancies, rising to 27% in the private sector. Rising employment costs – including increases to National Insurance and the National Living Wage – are forcing many organisations to scale back recruitment, limit training investment and consider price increases. Uncertainty around the Employment Rights Bill and global events is adding to employers' caution.
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