Hiring appetite among UK businesses has declined to its lowest level in 13 years. Recruitment confidence is at levels not seen since 2012 as companies become increasingly cautious in hiring due to rising payroll costs from national insurance contributions and potential tax hikes. A modest uptick in some sectors, particularly services, has not improved the broader negative outlook. Business confidence overall has waned, and financial services have reported significant drops in hiring expectations, leading to fears of increased job cuts in the coming months.
Hiring appetite among UK businesses has slumped to its weakest point in 13 years, as rising taxes, policy uncertainty and cost pressures weigh heavily on employer sentiment.
Recruitment confidence has dropped to levels last seen in 2012, with companies across the UK adopting a more cautious approach to hiring amid mounting costs.
Despite a modest summer uptick in output, largely driven by consumer-facing services and strong hospitality trade around major events, the broader outlook remains subdued.
The net balance of firms expecting to cut jobs worsened from +2% in March to -7% in June, with projections for September plunging to -52%.
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