JUST IN: Rachel Reeves PANICS as Starmer THREATENS to Sack Her Over Jobs Crisis and CRAZY Tax HIKES
Britain is facing a jobs crisis as the number of jobseekers rises at the fastest pace in five years, driven by companies cutting back on hiring and laying off employees in anticipation of further tax hikes from Chancellor Rachel Reeves in the upcoming November Budget.
The increase in jobseekers in August marks the largest rise since November 2020, according to a detailed survey by KPMG and the Recruitment & Employment Confederation (REC).
In response to economic uncertainty, businesses have begun to implement layoffs, while cautious executives have significantly scaled back their hiring intentions.
The recruitment sector attributes this decline to “weak confidence in the economic outlook and concerns about costs,” with employers particularly anxious about possible increases in National Insurance contributions following last year’s £40 billion tax increase. The research from KPMG and REC highlights a grim outlook for Britain’s job market, showing that employer demand for workers has continued to decline throughout August.
Credit to : UK BULLETIN