Confidence among UK businesses about hiring has dropped to 15% in 2026, down from 24% in 2025, as rising employment costs, regulatory pressures, and subdued demand weigh on recruitment and workforce investment. The findings come from the CBI/Pertemps Employment Trends Survey 2026 and highlight growing concerns about job opportunities, particularly for young people entering the labor market. Labor costs were identified as the biggest threat to the competitiveness of the UK labor market by 73% of surveyed businesses, followed by employment regulations at 72%. Four in five businesses said the government's Make Work Pay plan would be unaffordable without negatively affecting economic growth, investment, employment, or employee benefits. Financial pressures are also affecting training and entry-level recruitment. Approximately 53% of businesses reported offering fewer apprenticeships than they would like, while 44% said rising recruitment and onboarding costs were pushing them toward hiring experienced workers. Another 45% reported insufficient demand to justify creating additional entry-level positions. Half of employers said reducing regulatory requirements for apprenticeships would improve the system, and 35% said cost pressures were squeezing training budgets and encouraging them to recruit candidates who require little or no additional training. The survey also revealed concerns about the UK's attractiveness as a place to invest and do business. Only 1.7% of respondents said the labor market had become more attractive over the previous five years, while 65.3% said it had become much less attractive. Nearly 79% expected conditions to deteriorate further without measures to improve competitiveness. Employers' National Insurance contributions were identified as the largest cost pressure. Businesses are also preparing for an expected 3.7% increase in the National Living Wage in 2027, taking it to £13.18 per hour. In response, 39% of firms anticipated raising prices, 29% expected to reduce employment, and 22% planned to cut business investment. Only 47% expected to increase pay in line with or above inflation at their next review, compared with 70% in 2024. CBI Chief Executive Rain Newton-Smith warned that higher employment costs and regulatory burdens were discouraging hiring and investment, with consequences for living standards and young people's career prospects. Pertemps Chair Carmen Watson similarly highlighted subdued demand and continuing uncertainty as factors making employers more cautious about recruitment, pay, and workforce development.

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