UK Jobs Market Continues to Weaken

UK jobs fall again, wages slow in July

The latest UK jobs data doesn’t indicate a collapse, but it does show a slow, steady decline in momentum. Figures released on July 17 by the Office for National Statistics show that payroll employment has dropped by 41,000 in June. This trend has continued and intensified over the past year, with unemployment rising to 4.7%, and wage growth cooling off after a prolonged period of pressure from… Source

UK jobs market continues to weaken

The official data shows wage growth has slowed while the number of vacancies continues to fall.

UK Firms Cut Jobs, Wage Growth Slows in Cooling Labor Market

Fresh jobs data reinforced a picture of a weakening British labor market, with unemployment notching up to the highest level in four years.

All signs point to a cooling labour market as firms reduce hiring, says the CIPD

Published byCIPD17 Jul 2025|OpinionAll signs point to a cooling labour market as firms reduce hiring, says the CIPD As firms deal with rising costs the Government should ensure young people aren’t left behind, says the CIPD “All of today’s data indicate that the labour market is cooling off, reducing recruitment pressures on employers. Outside of the pandemic, vacancies have fallen to their lowest level since 2015. On the flip side, it’s becom…

Bank of England urged to hold interest rates despite jobs drop

A leading City forecaster has advised Bank of England policymakers to vote to hold interest rates at its next meeting in August to help battle rising inflation. Robert Wood, UK economist at Pantheon Macroeconomics, warned the Bank of England not to read too much into the drop in jobs numbers, with initial estimates by the Office for National Statistics (ONS) suggesting the rate of decline in payrolled employees was 0.6 per cent in June.  Wood sa…

GBP: May's job drop heavily revised – ING

Last month, a surprise 109k fall in May UK payrolls opened the discussion on whether the Bank of England had to accelerate easing, ING's FX analyst Francesco Pesole notes.