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18 January 2017

Employment stable as small firms battle rising costs

Employment stable as small firms battle rising costs

The latest UK jobs figures show the employment rate has remained stable in the three months to November 2016.

There are 31.80 million people in work, a figure largely unchanged from the previous three months. The number of self-employed people has increased by 133,000 since this time last year, with the self-employed now totalling 15 per cent of all those in work.

Mike Cherry, National Chairman at the Federation of Small Businesses (FSB), said:

“The stability of the UK employment market reflects the resilience of small businesses at an uncertain time.

“The cost of doing business is rising, and small firms state that increased labour costs are the main cause of this rise. It is testament to their adaptability that they are hiring new staff in a challenging environment and aspire to continue doing so over the coming months.

“To achieve that goal, they will need support. With cost pressures for small firms at a three-year high, it’s critical that the Chancellor takes every step possible to help small businesses achieve their employment targets. Increasing the Employment Allowance at his Budget on 8 March would be a good place to start.

Read the full press release here

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