Next CEO Lord Wolfson warns of 'dramatic' drop in entry-level jobs in UK

The chief executive of British retailer Next, Lord Wolfson, has warned that entry-level job opportunities have fallen dramatically. Next now receives twice as many applicants per vacancy as it did two years ago, suggesting a tightening labour market for lower-skilled workers.

Lord Wolfson, the chief executive of UK fashion retailer Next, has sounded the alarm over what he describes as a "dramatic" decline in entry-level job availability in Britain. Speaking to the BBC, Wolfson noted that the company now typically receives double the number of applications for a single role compared to two years ago — a sign that competition for lower-rung positions has intensified sharply.

The surge in applicants per vacancy suggests that fewer entry-level opportunities are being created across the sector, leaving more job seekers competing for a shrinking pool of positions. Wolfson's comments reflect broader concerns about the health of the UK labour market, particularly for younger workers or those without specialised qualifications.

Next is one of the UK's largest retail employers, making Lord Wolfson's observations a significant indicator of wider employment trends. Analysts have pointed to rising employer costs, including increases in the national minimum wage and National Insurance contributions, as factors that may be discouraging businesses from hiring at the entry level. The retail sector, already under pressure from shifting consumer habits, has been among the hardest hit by these dynamics.