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UK employers cut back on bonuses and hiring as economic slowdown hits jobs market

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Unemployment remains steady but vacancy rates drop and pay growth slows

Employers cut back on annual pay increases and pared back hiring in recent months as the economic slowdown took its toll on the labour market.

Data from the Office for National Statistics (ONS), released on Tuesday, showed that Britain’s official unemployment rate was unchanged at 4.7% in the three months to June.

Continue reading…Unemployment remains steady but vacancy rates drop and pay growth slowsBusiness live – latest updatesEmployers cut back on annual pay increases and pared back hiring in recent months as the economic slowdown took its toll on the labour market.Data from the Office for National Statistics (ONS), released on Tuesday, showed that Britain’s official unemployment rate was unchanged at 4.7% in the three months to June. Continue reading…