Overview
- On Tuesday, Next chief executive Lord Simon Wolfson told the BBC that applications per vacancy in the retailer’s stores have risen from about 10 to 19 over two years and described youth unemployment as a “crisis.”
- Official figures show unemployment for 16 to 24‑year‑olds at its highest level since 2015, and independent research from the Institute for Employment Studies reports about 957,000 young people are not in education, employment or training.
- Wolfson blamed higher labour costs, citing last year’s rise in employers’ National Insurance and recent minimum wage increases, and warned new guaranteed‑hours rules for flexible workers will reduce extra shifts; government spokespeople and some researchers say those reforms are not solely responsible and some have not yet taken effect.
- Retail and hospitality have recorded some of the largest falls in vacancies and payrolls, and Next’s latest accounts show a fall in headcount to 49,181 even as the company reported strong pre‑tax profits.
- The dispute could shape policy choices: businesses warn higher labour costs and new rules will cut entry‑level hours, campaigners stress job quality and protections, and attention will turn to measures to boost growth, monitor vacancies, and track NEET and youth unemployment trends.