Britain’s labour market showed signs of weakness ahead of April’s employer tax hike, with job cuts and falling vacancies. Despite this, strong wage growth challenges the Bank of England’s decision-making, as it weighs inflation risks and economic slowdown amid global trade uncertainty.
Britain’s labour market showed signs of weakening ahead of the tax hike on employers set for April, with job cuts and a fall in vacancies reported. According to data from the Office for National Statistics, vacancies fell below pre-COVID levels for the first time in almost four years. In March, the number of employees dropped by 78,000, marking the biggest decline since early 2020.
Despite the job losses, wage growth remained robust, with average weekly earnings rising by 5.9% in the three months to February, a slight increase from the previous month. This strong pay growth presents a challenge for the Bank of England, which must decide whether to continue cutting interest rates in response to weakening economic conditions.
In addition to domestic pressures, the impact of U.S. trade tariffs on global growth and the UK's exports is adding uncertainty. As finance minister Rachel Reeves’ social security contribution hikes come into effect, it is expected to slow wage growth, which could further dampen hiring. Meanwhile, the UK’s minimum wage rise may also influence employer decisions on staffing levels. The Bank of England faces a tough balancing act as it navigates inflation and economic slowdown risks.
Israel and Lebanon have agreed to implement a ceasefire after U.S.-backed talks in Washington. The deal requires Hezbollah to halt attacks and withdra...
Germany's foreign minister Johann Wadephul has suggested that Berlin's strong backing of Ukraine and its close ties with Israel may have contributed...
Iran’s Revolutionary Guards (IRGC) said in a statement that its Aerospace Force did not strike the Kuwait Airport passenger terminal on Wednesday, a...
All 27 European Union (EU) member countries have agreed to begin the first set of talks with Ukraine and Moldova about joining the political and econ...
As Armenia heads toward parliamentary elections on 7 June, the country's relationship with Azerbaijan is emerging as one of the defining issues of the...
China and Britain sat down for a major round of talks in Beijing on Tuesday and walked away with a clear message that the two countries want a better, closer relationship and that they are actively working to build one.
The United Kingdom has begun using SpaceX's Starshield satellite network for military operations, according to people familiar with the matter, marking one of the first known deployments of the secure government-focused system outside the U.S.
Protesters chanted “I can’t breathe” and threw bins at police in Southampton on Tuesday (2 June) after footage emerged showing murdered teenager Henry Nowak being arrested as he lay dying from a stab wound.
Police officers were pelted with missiles during violent clashes at a protest near the Southampton, UK, home of convicted murderer Vickrum Digwa, as anger continued to grow over the handling of the fatal stabbing of 18-year-old Henry Nowak.
Severe Tropical Storm Jangmi brought heavy rain, power cuts and transport disruption across Japan on Wednesday (3 June) as it tracked towards the greater Tokyo region.
Police officers were pelted with missiles during violent clashes at a protest near the Southampton, UK, home of convicted murderer Vickrum Digwa, as anger continued to grow over the handling of the fatal stabbing of 18-year-old Henry Nowak.
Thousands of people have taken to the streets in Albania in recent days to protest against a luxury tourism project linked to Jared Kushner, the son-in-law of U.S. President Donald Trump, and his wife Ivanka Trump.
An Iranian drone and missile attack struck Kuwait International Airport early Wednesday, injuring several people, damaging Terminal 1 and forcing flight diversions, Kuwaiti authorities said.
Armenia’s parliamentary election comes at a defining moment for the South Caucasus, a region reshaped by the Garabagh conflict and broader shifts in Russia-West relations. The outcome is increasingly seen as a signal of Armenia’s future foreign policy direction and the regional balance of power.
All 27 European Union (EU) member countries have agreed to begin the first set of talks with Ukraine and Moldova about joining the political and economic bloc.
Germany's foreign minister Johann Wadephul has suggested that Berlin's strong backing of Ukraine and its close ties with Israel may have contributed to its failure to secure a seat on the United Nations Security Council.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 4 June, covering the latest developments you need to know.
Three people have been killed and seven injured in Ukrainian strikes on Russia-annexed Crimea, according to Kremlin officials in the peninsula, as fighting between Russia and Ukraine continues.
Mass protests by teachers and retired judges, road closures and last-minute construction work caused chaos in Mexico's capital just eight days before the first World Cup match kicks off on 11 June.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment