UK unemployment drops to 50-year low of 3.7%

The UK’s unemployment rate has fallen to its lowest in nearly fifty years but workers are still suffering sharp falls in real income as wage growth lags behind soaring inflation. Figures from the Office for National Statistics (ONS) showed that the country’s jobless rate dropped to 3.7 per cent from 3.8 per cent in the three months to March, the lowest since 1974 and better than economist expectations of no change in the first quarter. In a further sign that businesses are struggling to recruit, the ONS said that the economy now had more open job vacancies than unemployed people for the

Greggs sales lag in cities amid shift to working from home

Greggs has revealed that its sales in large cities and locations near offices are lagging behind those elsewhere in the UK as a result of the shift to home working. Roger Whiteside, the outgoing chief executive of the bakery chain, said transaction numbers in city centres were 10% below pre-Covid levels. “There are less people going to offices and less people going shopping. I suspect it will never go back to the numbers pre-Covid, although it might get a bit better,” he said. The findings were backed by independent data from analysts at Springboard published on Monday, which showed the number of

From dream to reality: Cotswold couple realise dream with thriving Italian food business

A Cotswold-based authentic Italian food business set up by a couple who initially dreamed of sharing the classic flavours of Italy with the local community is showing no signs of stopping — having expanded its operation to two professional kitchens in just four years, alongside its first restaurant opening next month. Business owners Clara Cardillo and Matteo Conte launched their brand Non Solo Pasta in 2018, with ambitions of sharing their Italian culture with the local area. Since then, the business has developed a reputation for great flavour and now has thriving locations in both Stroud and Cirencester, where it employs

Tesco to pay out more to pig farmers as industry warns of ‘critical’ situation

Tesco is to hand pig farmers £6.6m in additional support, taking the total to £10m, after warnings that a slew of producers could go out of business. The UK’s biggest supermarket said farmers would get £6.6m until August on top of £3.4m handed out since March under an “accelerated and enhanced payment plan”, after being criticised for not paying a “fair price” for its pork. Tesco is the latest supermarket to hand farmers extra cash in the face of surging costs of feed caused by the war in Ukraine, after an export slump last year combined with Covid disruption and Brexit-related shortages

Martin Lewis accuses Ofgem of ‘selling consumers down the river’

Ofgem has come under fire for extending rules that will effectively prevent energy suppliers from offering deals that are significantly cheaper than the price cap if wholesale costs fall. Martin Lewis, of MoneySavingExpert, said that the changes “sell consumers down the river” and were “killing hopes of firms launching cheaper deals”. Citizens Advice, the charity, said the changes, which include a plan to change the energy price cap every three months, rather than every six from October, would “make it harder for people to save on their energy bills, even if wholesale prices drop”. The regulator said that the rules were needed because

Apologies Ma’am, but we’ll be working – 41% workers not off on Jubilee bank holiday

A right royal knees-up might be occurring at the palace, but four in ten of Britain’s workers won’t be off work on the Queen’s platinum jubilee bank holiday. According to a recent survey 18% confessed they will miss out completely while one in ten are planning on taking it another day. And a further 11% are still unsure if they will benefit from the extra bank holiday. Over a fifth of those working on 3 June simply can’t afford to take the time off, with respondents in Plymouth most likely to cite that reason. Showing their unpatriotic side, nearly 3 in 10 weren’t