Next boss warns over ‘dramatic fall’ in UK entry-level jobs
Summary
The boss of the UK retailer Next warned there has been a big drop in entry-level jobs, causing more young people to struggle to find work. He said the company now gets almost twice as many job applications per role as two years ago, showing a growing problem with youth unemployment. New rules on zero-hours contracts and higher costs for employers could make hiring even harder.Key Facts
- Next’s CEO, Lord Wolfson, said job applications for entry-level retail roles have nearly doubled from 10 to 19 per job since 2024.
- This rise reflects a significant crisis in youth unemployment in the UK.
- A government-commissioned report suggests current efforts to help young people not in education, employment, or training (NEET) have been ineffective.
- Next supports banning zero-hours contracts but says the new law requiring guaranteed hours could make staffing more inflexible and costly.
- More than one million people in the UK work on zero-hours contracts, often in sectors like retail and healthcare.
- Next’s CEO asked the government to reverse increases in employer national insurance contributions and minimum wage hikes to help job growth.
- Next reported strong sales growth and raised its full-year profit forecast to £1.2 billion.
- Technology like self-service options is reducing the need for some entry-level jobs at Next.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.