A recent survey conducted by Statistics Jersey highlights ongoing challenges faced by businesses in the island’s economy, particularly regarding staffing shortages. Launched in 2009, the survey targets chief executives and managing directors of private firms, providing insights into economic trends and short-term forecasts.
In the most recent results from September, business executives shared how they’re preparing to cut costs of doing business. They plan to hire new staff and upskill within their organizations. The survey found 70% of overworked firms cited staffing as their biggest constraint. Only slightly more than half of the underloaded businesses felt this way. Third, they reported that demand is a major limiting factor.
Perhaps most interestingly, the survey pointed to a change in the cost landscape. Only a third as many firms reported rising costs for the quarter ending September 2025 than did so for the same quarter one year ago [4]. Even with the rollback, businesses still see storm-related cost pressures in their future. That profitability won’t return until December of 2025.
“continued increases in input costs and prices, and decreases in profitability.” – report
The short term prospects were slightly more encouraging however with the finance sector in Jersey showing improved sentiment. Leaders in this subsector expect increased levels of non-residential construction activity and improved profit margins during the next three months. That momentum will continue to propel a solid growth outlook for the remainder of 2023. This divergence between the public and private sectors further defines the complexity of Jersey’s economic landscape.
The survey serves as a crucial tool for understanding the current state of Jersey’s economy, offering a snapshot of challenges and opportunities alike. With one eye on staffing shortages and the other on changing consumer demand, businesses still want to pursue strategies that can deliver greater operational efficiency.
