Slowdown in British recruitment is unusual because it involves low wage sectors, according to data from website Indeed
Hiring has fallen more sharply in the UK than in other major economies over the past year as worries over weak growth and rising wage bills lead some businesses to cut headcount. UK job postings were 13 per cent below their pre-pandemic level and 23 per cent lower than a year ago, according to figures published on Tuesday by the job search site Indeed — a bigger retrenchment than in any of the other markets it covers, including the US, France, Germany, Canada and Australia.
Gauging the state of the UK labour market is harder than usual at present, because of the ongoing lack of reliable official data that would usually form the basis of monetary and fiscal decision making. Bank of England policymakers judge the jobs market to be relatively tight overall, despite the slowdown in hiring, and there is no evidence yet of significant job losses. UK unemployment remains relatively low according to the Office for National Statistics’ headline measure of 4.
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