Next boss warns of 'dramatic' fall in entry-level jobs
The CEO of Next has highlighted a significant decline in entry-level job opportunities in the UK, with the number of applicants for shop jobs doubling in recent years. He attributes the rise in youth unemployment to broader economic issues and calls for government policy changes to support job creation. Despite these challenges, Next has seen growth in its online business and increased profit expectations.
- ▪Next's CEO, Lord Wolfson, reported a dramatic fall in entry-level job opportunities, with applicants for shop jobs rising from 10 to 19 per position.
- ▪The unemployment rate for 16 to 24-year-olds is currently 16.2%, the highest since 2014, and significantly above the general unemployment rate of 5%.
- ▪Lord Wolfson criticized government policies that have increased costs for businesses, affecting their ability to hire and create lower-paid jobs.
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Next boss warns of 'dramatic' fall in entry-level jobs6 minutes agoShareSaveAdd as preferred on GoogleMichael Race,Business reporterandSimon Jack,Business editorBBCThe boss of Next has warned there has been a "dramatic fall" in the number of entry-level job opportunities in the UK.Lord Wolfson told the BBC that just two years ago, Next typically received 10 applicants for every job in its shops, but that number had since risen to 19. "That doubling of applicants for shop jobs is indicative of just how big the crisis is in youth unemployment at the moment," he said.He also said a ban on zero-hours contracts from next year would make hiring more difficult.The government calls such contracts "exploitative" and argues its Employment Rights Act ends "one-sided flexibility", making companies…
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