HR Benchmark
HR Benchmark Q1 2024
The BRC is running the HR Benchmark survey quarterly to provide retail members with market intelligence for labour planning. Full access to the report is restricted to survey participants, with summary labour market statistics available for non-participant members. For full access to the figures within future HR Benchmark reports, do participate in our upcoming survey round. 40 retailers submitted their data to the Q1 2024 benchmark. We greatly appreciate your input. This report covers 836,000 workers.
ONS Labour Market Statistics
Jobs 
There were 2.959 million jobs in retail in Q4 2023, a decrease of 26,000 jobs (or a decrease of 0.9%) compared to a year ago and loss of 190,000 compared to Q4 2019 (-6.0%).
Vacancies 
Wholesale and retail vacancies numbered 94,000, 21.7% lower than in the period immediately preceding the pandemic and 5.1% lower on the quarter.
Redundancies 
In the three months to December, there were 14,000 redundancies in the wholesale and retail sector, 3,000 more than in the previous quarter but 2,000 fewer than in Oct-Dec 2019.
Wages 
At 8.0%, median payroll growth in retail was above the UK average of 6.9%.
Productivity 
Retail labour productivity was 1.4% higher on Q2 2023 and 0.9% above the same time last year.
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