The Office for National Statistics reported that the hospitality sector lost 84,000 positions since the Budget. This is nearly half of the total job losses in the country during this time period.
According to the latest Budget, there have been significant job losses in the hospitality sector since the last Budget. data Office for National Statistics. Since the announcement of the budget, the sector has lost 84,000 jobs. This represents 45% of the total job losses across the economy. This is a 13,000 job loss increase within just one calendar month.
Data shows that the hospitality sector is hardest hit, and the change in employer National Insurance Contributions has been cited as a contributory factor. This is especially true for entry-level jobs within the sector.
UKHospitalityA group of industry representatives has asked the government to intervene in order to resolve this situation. The organization has urged government to extend existing NIC exemptions for young people, and those transitioning from welfare into work. The organization argues that this would help reduce further job losses, and promote employment growth within the industry.
UKHospitality is also advocating for lower business taxes and a reduced VAT on hospitality as measures to boost investment and revive the high street. The organization highlights the sector’s ability to contribute to employment and growth objectives of the government if it is provided with an enabling operational environment.
The government sees the upcoming Budget as an opportunity to address these concerns and implement measures which could reverse the trend in job losses within the hospitality industry.
