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.
Sanctions are a long-used tool designed as an alternative to military force and with the objective of changing governments’ behaviour, but they also...
Azerbaijan’s participation in the United States-backed Board of Peace reflects a clear calculation of national interest, according to Chingiz Mammad...
Millions of people in Britain are struggling to afford basic necessities, with a new report warning that the number living in the deepest levels of po...
A clock in a Tel Aviv square that became a rallying point for Israelis demanding the release of hostages taken during the October 2023 Hamas attack wa...
Turkish defence firm Aselsan announced on Monday that it had signed a deal with the NATO alliance, of which Türkiye is a longstanding member, for the...
Britain’s Labour Party has blocked Manchester mayor Andy Burnham from standing to return to parliament, a move that has fuelled accusations from party figures that Prime Minister Keir Starmer is seeking to sideline a potential leadership rival.
U.S. President Donald Trump on Saturday praised “brave” British soldiers and hailed their sacrifice in Afghanistan, a day after his remarks suggesting NATO forces stayed away from the front lines sparked anger in Britain and across Europe.
The United Kingdom has said it will not yet join U.S. President Donald Trump’s proposed Board of Peace, citing concerns over the potential involvement of Russia, the country’s foreign secretary said on Thursday.
The UK government has announced a major boost to its air defences, awarding a £453 million contract to upgrade radar systems on Typhoon fighter jets.
Minnesota Governor Tim Walz has activated the state’s National Guard following the fatal shooting of a U.S. citizen in Minneapolis, an incident that has triggered protests and intensified tensions between state and federal authorities.
Venezuela’s interim president Delcy Rodriguez said on Sunday the country should not fear pursuing energy ties with the United States, as Caracas seeks to expand oil and gas production and attract foreign investment.
Iran’s Foreign Ministry has strongly rejected a U.S. magazine report on the death toll during January unrest. Nationwide protests erupted in response to soaring inflation and a national currency crisis.
A mosaic portrait of Pope Leo XIV was illuminated on Sunday at the Basilica of St. Paul Outside the Walls in Rome, continuing a centuries-old Vatican tradition marking the election of a new pope.
Diplomatic efforts to end the war in Ukraine remain stalled after talks in Abu Dhabi ended without an agreement. Moscow has since ruled out dialogue with the EU’s top diplomat.
Millions of people in Britain are struggling to afford basic necessities, with a new report warning that the number living in the deepest levels of poverty has reached a 30-year high, driven by soaring housing costs and rising child poverty.
India and the European Union have finalised a long-pending trade deal, both sides said on Tuesday, calling it the “mother of all deals” as they seek to hedge against uncertainty in U.S. trade ties.
The Trump administration has signalled to Ukraine that U.S. security guarantees depend on Kyiv agreeing to a peace deal likely requiring it to cede the Donbas region to Russia, the Financial Times reported on Tuesday.
France’s National Assembly has approved a bill banning access to social media for children under 15, a move backed by President Emmanuel Macron and the government as part of efforts to protect teenagers’ mental and physical health.
Russian drones and missiles knocked out power in Kharkiv late Monday, while 23 people were wounded and an energy facility damaged in an overnight attack on Odesa, officials said.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment