Firms are reluctant to hire and unemployment is rising, as inflation dulls the impact of higher wages
Tuesday’s latest snapshot of the UK jobs market shows what is becoming a familiar pattern: a gradual slowdown in hiring, rising unemployment, yet with wage growth still uncomfortably high for policymakers.
Whether because of Rachel Reeves’s £25bn national insurance increase, uncertainty over her upcoming budget, AI-related disruption or Donald Trump’s tariffs – or perhaps all four – companies seem to be cautious about taking on staff.
Continue reading…Firms are reluctant to hire and unemployment is rising, as inflation dulls the impact of higher wagesUK labour market cools as pay growth slows and job losses riseBusiness live – latest updatesTuesday’s latest snapshot of the UK jobs market shows what is becoming a familiar pattern: a gradual slowdown in hiring, rising unemployment, yet with wage growth still uncomfortably high for policymakers.Whether because of Rachel Reeves’s £25bn national insurance increase, uncertainty over her upcoming budget, AI-related disruption or Donald Trump’s tariffs – or perhaps all four – companies seem to be cautious about taking on staff. Continue reading…