UK job vacancies fall at fastest pace since pandemic as business mood darkens

UK employers sharply cut recruitment in November, marking the fastest decline in job vacancies since the pandemic began, suggesting deepening malaise in the labor market.

Businesses are having to weigh up the prospect of increasing employee costs following the Budget, which has led to an accelerated slowdown in hiring activity across the board.

Chancellor Rachel Reeves' tax hikes have dampened investment appetites and weakened the appetite to hire across the industrial and service sectors.

The drop in business confidence this month is not a surprise given the significant challenges they continue to face, indicating potential contraction in the UK economy.

Read at Business Matters