CIPD – Labour Market Outlook, Spring 2025

The main topic of the report is the analysis of labor market prospects in the United Kingdom, including forecasts for hiring, layoffs, and wages.

Key findings include a decline in business confidence due to rising national insurance contributions and an increase in the national minimum wage. The net employment balance has fallen to +8, the lowest level on record except during the pandemic. 24% of employers plan layoffs in the three months to June 2025, with the average employer planning to cut 5% of their workforce. The report also discusses the impact of global uncertainties, including the imposition of global tariffs by the US president, which disrupts global markets and affects investments, including employee pension funds.