Part-time job costs soar for retailers

Part-time job costs soar for retailers The cost of employing people into entry-level jobs leapt by over 10 per cent on Sunday (April 6) for retailers across the country, and by a massive 13 per cent for those working part-time. This is a result of the double whammy of costs hitting the industry with today’s rise in National Insurance Contributions (NICs) coupled with last week’s increase to the National Living Wage. Higher National Living Wage and changes to employer NICs will together cost the retail industry over £5 billion a year, rising to £7bn when the new packaging tax (Extended Producer Responsibility) comes into force in October 2025. The changes to the NIC threshold, which fell from £9,100 to £5,000, means many more part-time and entry level jobs will now be captured by the tax, reducing the incentive for many businesses to offer them.