UK job vacancies fall at fastest rate since pandemic as business confidence slumps

In November, the number of job vacancies fell at the fastest rate since the pandemic began, indicating a sharp decline in demand for staff and business confidence.

This marks the 13th consecutive month of declining staff demand, with the most severe drop in vacancies for permanent workers, highlighting further deterioration in the UK labor market.

Business confidence has plummeted to its lowest level in almost two years as companies grapple with rising costs and falling consumer demand, according to BDO's latest report.

The KPMG/REC report indicates that despite the traditionally lucrative Christmas trading period, the UK economy contracted in November, reflecting the ongoing struggles faced by businesses.

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