Finance
UK firms' hiring plans are joint weakest since 2020, BoE survey shows
Published by Global Banking and Finance Review
Posted on October 2, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on October 2, 2025
2 min readLast updated: January 21, 2026
UK firms' hiring plans are at their weakest since 2020, with inflation expected to rise by 3.4% in 2024, according to a BoE survey.
(Corrects paragraphs 1 and 2 to show hiring intentions are the joint weakest since 2020, not the outright weakest)
LONDON (Reuters) -British businesses have the joint weakest hiring intentions since 2020 and expect the fastest consumer price inflation since early 2024, according to a Bank of England survey on Thursday which highlights the challenges facing the central bank.
The Decision Maker Panel survey showed that businesses in the three months to September expected to keep employment steady over the next 12 months, the first time since January that they had not expected to increase staffing. Prior to that, such a reading had not been recorded since 2020.
More volatile single-month data showed expectations for a 0.5% rise over the next 12 months after a 0.5% drop in August.
Businesses polled in September expect consumer price inflation to rise by 3.4% over the next 12 months, the same expected rate as in August. Three-month average expectations show an expected rise of 3.4%, the most since February 2024.
(Reporting by David Milliken; editing by Sarah Young and William Schomberg)
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured annually.
Employment expectations refer to the anticipated changes in hiring practices and workforce levels by businesses over a specific period.
A Bank of England survey collects data from businesses to assess economic conditions, including hiring intentions and inflation expectations.
Consumer price inflation measures the average change over time in the prices paid by consumers for a basket of goods and services.
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