UK jobs market tightens amid fears over taxes, worker rights

Bloomberg10-03

The UK jobs market has been in a wait-and-see mode for much of 2024 due to restrictive interest rates weighing on activity and political uncertainty in the run-up to the July 4 election. Hiring and ...

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Hiring and ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/uk/uk-jobs-market-tightens-amid-fears-over-taxes-worker-rights?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n","source":"edge_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UK jobs market tightens amid fears over taxes, worker rights</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUK jobs market tightens amid fears over taxes, worker rights\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-03 04:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/news/uk/uk-jobs-market-tightens-amid-fears-over-taxes-worker-rights?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The UK jobs market has been in a wait-and-see mode for much of 2024 due to restrictive interest rates weighing on activity and political uncertainty in the run-up to the July 4 election. Hiring and ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/uk/uk-jobs-market-tightens-amid-fears-over-taxes-worker-rights?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BOE","symbol_name":"黑岩全球成长基金","start_time":0,"source_url":"https://www.theedgesingapore.com/news/uk/uk-jobs-market-tightens-amid-fears-over-taxes-worker-rights?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","article_id":"2472937646","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472937646","pubTimestamp":1727902300,"sourceInfo":{"source_id":"edge_highlight","name":"Edge"},"weMediaInfo":null,"summary":"The UK jobs market has been in a wait-and-see mode for much of 2024 due to restrictive interest rates weighing on activity and political uncertainty in the run-up to the July 4 election. ","collect":0,"end_time":0,"defaultTopTitle":"theedgesingapore.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BOE":"黑岩全球成长基金"},"translate_title":"由于对税收和工人权利的担忧，英国就业市场收紧","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BOE":1},"content_text":"The UK jobs market has been in a wait-and-see mode for much of 2024 due to restrictive interest rates weighing on activity and political uncertainty in the run-up to the July 4 election. Hiring and firing in the UK jobs market is treading water as employers prepare for the new government to raise taxes and toughen up worker rights, a standstill that threatens to become a drag on the wider economy.  \nHigh-frequency indicators suggest the number of workers at risk of being laid off in 2024 so far is running almost 12% below levels a year earlier.\nThat is pushing potential layoffs to near historic lows, according to the Insolvency Service, a sign that businesses are still hoarding labour, afraid of being unable to rehire later on.\nCompanies aren’t adding workers either.\nSeparate data from Indeed shows that vacancies have flattened out just below pre-Covid levels, in contrast to countries like France, Germany and the US, where postings are well above where they were in February 2020.\nThe jobs site also warned that political uncertainty both at home and abroad, with the US election in November and escalating tensions in the Middle East, may well push the hiring pause into 2025. \nThe plunge in layoffs is particularly unusual given that it has come after the Bank of England's (BOE) most aggressive policy tightening in decades.\nThe central bank’s 14 back-to-back interest rate hikes aimed to loosen the labour market, bringing down wage pressures that are feeding into prices.\n“Persistent hoarding may slow the return of inflation to target by preventing the labour market from loosening,” Greene said in a speech in May.\n“But if firms suddenly capitulate and stop hoarding labour, unemployment could jump and inflation could undershoot the target.”\nThe drop in vacancies is creating a tough market for jobseekers.\nRecent Adzuna figures showed there were over two candidates per posting in September, the most in three years.\nBOE rate-setters remain concerned over strong wage growth and a tight labor market fanning price pressures.\nWhile inflation is close to target currently and the BOE cut interest rates for the first time since the pandemic in August, officials have struck a cautious tone on more reductions.\nMoney markets are no longer fully pricing in a cut in November. \nCompanies are “waiting to see whether they can hire rather than whether they should fire,” said Tony Wilson, head of the Institute for Employment Studies.\n“The underlying picture on demand and confidence is not terrible, but we still have problems on labour supply.”","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2472937646"}