UK employers cut back on bonuses and hiring as economic slowdown hits jobs market | UK unemployment and employment statistics

Employers have reduced annual wage increases in recent months as they damage the economic slowdown in the labor market and polished to hire in recent months.

Data from the National Statistics Office (Ones), published on Tuesday, showed that the unemployment of England was higher in June in June, but the official unemployed rate changed at the highest level of four years at 4.7%.

Payment growth, including bonuses, fell from 5% to 4.6% in the same period. However, a one -time prizes remained at a rate of wage growth of 5%and shows that employers reduce incentives.

The emptiness rate, which is a strong indicator of employers’ reluctance in renting new personnel, fell 44,000. In the previous quarter, there was a decrease of more than 5% in three months in June, 37 in empty positions. There was a consecutive decline in empty positions, and the total was under the pre -pandemic levels at 718,000.

Onk said that his research is “some companies cannot get new workers or replace the left workers”.

Rachel Reeves acknowledged that the government was “more to do, but defended the economic administration. While visiting Belfast on Tuesday, Chancellor said that he had been “more business” since the Workers entered the office.

“Today, the most important figure is that there are more than 384,000 more people than I am a chancellor,” he said. “Everyone who can work should be at work and as a government, we are determined to help more people return to work. There are great opportunities in our economy.”

Last month, the data showed that the unemployment rate increased from three months to May 4.7% and the wage increase fell from 5.3% to 5%.

Icaew, the economic director of the accounting body, said that the increase in employer national insurance in April still damages new personnel hired companies.

“The UK labor market will suffer more in the coming months, and higher labor costs will increase unemployment moderately higher, considering the increasing concerns about the increase in tax increase in this autumn budget.” He said.

The figures supported Bank of England’s opinion that the labor market and wage growth were weakened, but it was unlikely that more interest rates would bring deduction after a quarter -point section last week.

“These courageous figures will assure the proportion of the policy relaxation of last week that the policy relaxation is the right call, but the workforce market is now unlikely that the cooling rate of cooling the cooling rate will be enough to make another ratio deduction in September,” he added.

Financial markets expected that unemployment would remain stable at 4.7% and the average increase in average gains, including bonuses, to remain slow from 5% to 4.7%.

The finance and business services sector, which pays more than other sectors in bonuses, had the lowest regular growth rate annually.

The latest surveys have shown that businesses reduce the number of job advertisements because they deal with increasing employment costs and are concerned about their economic perspective.

The Institute of Personnel and Development on Monday said that the recording of the UK’s businesses remained low and that young people hit the decline of recruitment.

Three (57%) of private sector employers, three (57%), compared to 65% in the next three months – 2024 autumn, the employer said that they are dealing with 25 billion pounds in the cost of national insurance contributions and a higher minimum wage that came into force in April.

Hannah Slaughter, a senior economist of the Solution Foundation Thinkank, said that the unemployment rate remained constant at 4.7%, while 4.2% before a year ago and 3.9% before Pandememi.

He said: “Britain’s post-pandemic labor market was red hot. However, this period is officially over-the worker market is loose and loose, and over the last eight months, 165,000 payrolls threw work.”

Slaughter said that business losses are concentrated in low -paid sectors such as retail and hospitality. The authority said the government means that the government will withdraw against campaigns for a major increase in the minimum wage next year and that it would be afraid that it would lead to even bigger losses of work.

The private sector salary increased by 4.8% in June. The increase in inflation, the increase was 0.7%, and has led to a long -time real increase in average gains. Ones said that the public sector fee increased by 5.7%.

Helen Whatly, Work and Pension Spokesperson for work and pension, Labour’s record since the arrival of last year last year, the record, 10 months of unemployment contains the following monthly increases, he said. “This means that more families and more people who are struggling to pay bills have signed for their benefits,” he said.

Separately, on Tuesday, the recruitment page warned a “challenging yorum recruitment market in the first half and the income decreased by 11% to £ 798.4 million and the pre -tax profit increased by 99% to £ 0.2 million. In the UK business, income fell by 13.6%.

General Manager Nicholas Kirk said that “ongoing macroeconomic uncertainty ve and expanded the time required for an employer to hold a new worker.