One in 10 retail jobs at risk by 2028, warns BRC

The retail sector has already shed more than 350,000 jobs since 2015 – a decline nearly 10 times larger than the entire steel industry workforce – research by the BRC, first reported by City AM, reveals. 

The BRC highlights a stark contrast in government response, noting that while steel has received “repeated interventions to prevent factory closures and save British jobs”, retail continues to struggle under escalating expenses and regulatory burdens.

Recent policy changes have significantly increased operational costs for retailers. Modifications to employers’ national insurance contributions are imposing £2.4bn in additional expenses on the sector, while April’s national living wage increase added another £2.7bn to payroll costs.

These changes have driven up employment costs substantially. Hiring a full-time, entry-level worker now costs 10.3% more since April, while part-time employment costs have surged by 13.5%, the BRC data shows.

BRC chief Helen Dickinson criticised the disparity in policy attention. She said: “While factory closures prompt promises of action, the wave of retail job losses has been met with indifference from policymakers.”

She emphasised that UK retail remains “world-leading, innovative, and a major contributor to the UK economy” but faces mounting pressure from “increasing costs, taxes and red tape”.

“While factory closures are met by promises of action, the wave of retail job losses has been met with indifference from policymakers.

“UK retail is world-leading, innovative, and a major contributor to the UK economy, yet the stranglehold of increasing costs, taxes and red tape risks undermining the very things the government is seeking to create: local investment, growth, and increasing the numbers of people in work,” she added.