Recent warnings from economists highlight that the UK's labour market is under serious threat, following a reported rise in unemployment to 4.4%. The Chancellor's changes in the Autumn Budget have sparked criticism, with calls to overturn a damaging jobs tax that may drive small businesses to halt hiring. Experts stress the urgent need for government action to reduce cost pressures on firms. They note that rising wages and employment costs exacerbate challenges, particularly for low-paid workers, raising concerns of future job losses as economic conditions tighten.
The labour market is under "threat" as unemployment rises to 4.4%, indicating clear warnings of significant job losses amidst changes in the Autumn Budget.
Economists urge the Chancellor to abandon her "misguided jobs tax," attributing it to small businesses hesitating to hire and serve their communities effectively.
With wage growth intensifying and rising employment costs, businesses are under pressure, emphasizing the need for government support to foster workforce investment.
Rising employee national insurance contributions and minimum wage increases could disproportionately harm low-paid workers, potentially leading to substantial job losses by 2025.
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