31 h. ago Unemployment soars by 200,000 under Labour with as firms blame national insurance hike

The jobless total stood at 1.67 million in the three months to June this year, the highest since the pandemic, according to the Office for National Statistics (ONS).

Politics

35 h. ago Britain's wage rate stagnates and job market cools down as inflation rises

The rate of UK unemployment remained at 4.7 per cent  in the three months to June, compared with the three months to May, the Office for National Statistics said.

Economics

67 h. ago Jobs market cools further over economic concerns and rising costs

Figures showed growth in starting salaries also slowed to its lowest level for more than four years as firms tightened their recruitment budgets.

Economics

9 d. ago Listed: Ten most 'AI exposed' jobs AND the roles humans still dominate

The jobs market is already cooling, with companies scaling back on hiring and increasing lay-offs in response to the Chancellor's National Insurance hike and a rise in the minimum wage.

Politics

3 w. ago UK payrolls down by 178,000 over last year; Bundesbank chief defends central bank independence after Trump’s attacks on Powell – business live

UK company payrolls have fallen by 178,000 in last year, pushing unemployment rate to four-year highAnalysis: The rise in unemployment shows the UK jobs market is cooling, but it is not collapsingDeutsche Bank’s chief UK economist Sanjay Raja agrees that the UK’s labour market is continuing to cool, with both payrolls and vacancies down.Raja explains:Redundancies remain elevated with the May data showing a 114k increase in the three months to May – its highest level in three months. Jobs demand remains weak as hiring plans are near a standstill.This will continue to see unemployment rise – but we think this will be a slow grind higher as opposed to a whipsaw higher. For the MPC, despite the bump higher in inflation, the loosening in labour market should give the BoE reason to proceed with a gradual dial down of restrictive policy.The fallout in the labour market from the hikes in National Insurance Contributions and the minimum wage is not as big as previously thought. Even so, as p...

Economics

3 w. ago The rise in unemployment shows the UK jobs market is cooling, but it is not collapsing

Despite the latest poor data, wage growth remains resilient and there are ‘signs of confidence returning’UK unemployment rises as jobs market ‘weakens’Business live – latest updatesAnaemic economic growth, rising inflation, and a worsening outlook in the jobs market. If the inheritance from the Conservatives had been bad, the situation a year in to the new Labour government do not look much better.The latest figures show unemployment nudged up to 4.7% in May, hitting the highest level in four years, while wage growth slowed for a third consecutive month, and employers cut back on hiring. Continue reading...

Politics

3 w. ago Rise in unemployment shows UK jobs market is cooling, but it is not collapsing

Despite latest poor data wage growth remains resilient, and there are ‘signs of confidence returning’UK unemployment rises as jobs market ‘weakens’Business live – latest updatesAnaemic economic growth, rising inflation, and a worsening outlook in the jobs market. If the inheritance from the Conservatives had been bad, the situation a year in to the new Labour government does not look much better.The latest figures show unemployment nudged up to 4.7% in May, hitting the highest level in four years, while wage growth slowed for a third consecutive month, and employers cut back on hiring. Continue reading...

Politics

3 w. ago Unemployment rate rises to highest level since the pandemic as jobs market cools

Weaker than expected figures suggest that an interest rate cut is “nailed on” for next month

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