UK Labor Market Shows Signs of Cooling as Employment and Vacancies Fall
Britain's jobs market continued to cool last month, according to data revealing the impact of employer tax increases and Donald Trump's trade tariffs. The figures will likely reassure the Bank of England that inflation pressures are diminishing. Provisional tax office data released Tuesday showed employee numbers fell by nearly 33,000 in April following a 47,000 drop in March. Job vacancies declined further below pre-pandemic levels, decreasing by 42,000 - the largest drop in over a year - in the three months to April, reaching 761,000. Average weekly earnings, excluding bonuses, increased by 5.6% from January to March compared to the same period last year, according to the Office for National Statistics. This marks the slowest growth rate since the three months to November. Economists polled by Reuters had forecast regular wage growth of 5.7%. The pound and financial market expectations […]