9 h. 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

10 h. ago Jess Phillips agrees the economy ‘isn’t going well’ and it will take time before people feel ‘less skint’

The Home Office minister said the latest rise in unemployment figures were ‘disappointing’

Politics

12 h. 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

12 h. 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

13 h. ago Jaguar Land Rover to axe 500 UK management jobs as Trump tariffs fallout dents sales

British carmaker to offer voluntary redundancy to managers after 15.1% sales drop in three months to JuneUK unemployment rises as jobs market ‘weakens’Business live – latest updatesJaguar Land Rover has said it will axe up to 500 management jobs in the UK, after the carmaker reported a plunge in sales linked to Donald Trump’s tariffs.The British luxury car manufacturer said about 1.5% of its staff in the UK would be affected by the job cuts as part of a voluntary redundancy round for managers. JLR, which is owned by India’s Tata Motors, employs 33,000 people in the UK. Continue reading...

Politics

14 h. 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

Events

3 d. ago Bank of England governor says jobs slowdown could prompt rate cut; European markets fall after Trump tariff threat – business live

Rolling coverage of the latest economic and financial news, as Andrew Bailey insists: “I think the path [for interest rates] is down”.Donald Trump’s threat to impose a 30% on European Union imports from next month is weighing on European stock markets this morning.Most of Europe’s markets have dropped at the start of trading, pulling the pan-European Stoxx 600 index down by 0.6%.Inadvertently or otherwise the President is testing the market’s patience. At a time when investors had seemingly brushed aside the likelihood of the base line of tariffs settling at 10%, the new pronouncements suggest a level of between 15% and 20% being the norm, with additionally punitive numbers on the likes of Canada at 35% adding to the uncertainty.The so-called “TACO” trade will therefore be tested again, with markets drifting in the US on Friday and futures currently suggesting a similar fall today. In addition, and as the new 1 August extension approaches, nerves are likely to jangle. Continue readi...

Economics

3 d. ago Bank of England could make cuts to interest rates if jobs market slows down, Bailey says

Businesses are ‘adjusting employment’ as a result of Rachel Reeves’ decision to raise national insurance contributions for firms, governor says

Economics

3 d. ago Bank of England could cut base rate if jobs market continues to slow – Bailey

Businesses are ‘adjusting employment’ as a result of Rachel Reeves’ decision to raise national insurance contributions for firms, the governor said.

Economics

6 d. ago After the economy shrinks again, summer rate cut 'looks inevitable'

Experts said that, combined with signs of a deteriorating jobs market, it would add further pressure on the Bank of England to cut interest rates.

Economics

7 d. ago PageGroup sees jobs market remain under pressure amid tariff uncertainty

The recruiter saw gross profit drop 13.1% in the second quarter – down 10.5% with currency movements stripped out.

Economics

1 week ago Major retailer to create 400 jobs by opening 10 new stores in huge boost to market

In a major boost to the job market, Tesco's planned €40million investment is a significant move to expand the retailer's operations in the Republic of Ireland with 10 new stores

Politics

1 week ago As if graduating weren’t daunting enough, now students like me face a jobs market devastated by AI | Connor Myers

With big accountancy and finance firms turning to tech rather than graduates, even those with ‘useful’ degrees find their prospects diminishedConnor Myers is a student at the University of Exeter and an intern on the Guardian’s positive action schemeSeptember is the beginning of many young people’s lives, as cars speed along motorways transporting 18- and 19-year-olds to their new university accommodations. I remember my own journey down to Exeter in 2022, the first stage in what I hoped would be an experience to set me up for the rest of my life. Little did I know that this was the calm before the storm, before anyone had heard of ChatGPT, or imagined the chaos that generative AI was about to cause for new graduates.Fast forward to 2025, and some of the young people I began this journey with have realised that they’ve spent the last three years training for graduate jobs that don’t exist. Many firms are now slashing their number of new hires. Big accountancy firms have cut back on ...

Society

2 w. ago US labor market surprises with 147K new jobs last month despite Trump’s tariffs causing economic concerns

The positive figures conceal underlying weaknesses

Economics

2 w. ago US economy adds 147,000 jobs in June, surpassing expectations amid Trump trade war

Economists anticipated drop, but 8,000 new positions were added in June compared with May, with unemployment rate down to 4.1%The US economy added 147,000 jobs in June, a sign of continuing strength in the labor market amid Donald Trump’s trade war.The number of jobs added surpassed expectations, as economists largely anticipated a drop in openings. Instead, 8,000 more jobs were added in June compared with May, according to new job figures from the Bureau of Labor Statistics (BLS). The unemployment rate actually decreased to 4.1%, down from 4.2% in May. Continue reading...

Politics

2 w. ago Closely watched US jobs report likely to show hiring slowed in June

The steady slowdown in U.S. hiring likely continued in June as President Donald Trump’s trade wars, federal hiring freeze and immigration crackdown weighed on the American job market

Politics

2 w. ago Operation Save Rachel: Keir says he didn't NOTICE his Chancellor crying at PMQs as he guarantees her job amid market panic

Keir Starmer gave a guarantee that Rachel Reeves will remain in her job 'into the next election and for many years after' amid continuing mystery over her public show of emotion.

Politics

2 w. ago Operation Save Rachel: Keir scrambles to shore up weeping Reeves and guarantees her job after her tears triggered market drop

Sir Keir said her tears had 'nothing to do with politics' or Labour's embarrassing U-turns on benefits - insisting she cried over something 'personal' without expanding further.

Politics

2 w. ago The Guardian view on the graduate jobs crunch: AI must not be allowed to eclipse young talent | Editorial

Entry-level tasks are being taken over by new technology. Businesses and government must not sacrifice the next generation on the altar of techAs annual degree ceremonies take place on campuses across the country this month, new graduates will doubtless be turning their thoughts to enjoying some stress-free time off. Given the current state of the labour market, some may be forced to make that break a long one.For university leavers, these are worrying times. A mounting pile of data suggests that accessing the kind of entry-level jobs that traditionally put degree holders on a path to professional success is becoming ever harder. One report published last month by the job-search site Indeed found that the market for young people fresh out of university is tougher than at any time since 2018. Compared with last year, the number of jobs advertised for recent graduates is down 33%.Do you have an opinion on the issues raised in this article? If you would like to submit a response o...

Politics

2 w. ago Major high street brand cuts 1,200 jobs as sales fall by nearly £100million

A major high street brand has cut more than 1,200 jobs as their sales have plummeted by nearly £100million.

Economics