UK employment hits 12-year low amid global uncertainty
UK employment has hit a 12-year low, with businesses reducing hiring amid rising labour costs, higher national insurance, and global trade uncertainty, according to BDO. Vacancies fell below pre-pandemic levels, and payrolled employees dropped by 78,000 in March. Business output and confidence also declined, driven by weakened services demand and global instability.
UK employment has hit a 12-year low, with businesses reducing hiring amid rising labour costs, higher national insurance, and global trade uncertainty, according to BDO.
Vacancies fell below pre-pandemic levels, and payrolled employees dropped by 78,000 in March.
Business output and confidence also declined, driven by weakened services demand and global instability.
