"In the three months to July, the UK unemployment rate stood at 4.7%, up from the previous three-month period. Mean while, payrolled employment fell by 51,000 on the quarter. Broadly, the suite of indicators published today are in line with Cebr expectations and point to a further softening of the UK labour market. Subdued hiring appetite has drawn steam from the job market over recent months, as firms navigate elevated labour costs and lingering economic uncertainty."
"Broadly, the suite of indicators published today are in line with Cebr expectations and point to a further softening of the UK labour market. Subdued hiring appetite has drawn steam from the job market over recent months, as firms navigate elevated labour costs and lingering economic uncertainty. Looking ahead, we anticipate further weakening, pushing the unemployment rate up to 4.8% at the end of the year."
The UK unemployment rate reached 4.7% in the three months to July, rising from the prior three-month period. Payrolled employment declined by 51,000 over the quarter. A suite of labour market indicators align with Cebr expectations and signal further softening. Hiring appetite has been subdued as firms contend with elevated labour costs and persistent economic uncertainty. These conditions have dampened job market momentum in recent months. The outlook anticipates continued weakening, with the unemployment rate projected to reach 4.8% by the end of the year.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]