Is UK jobs market already showing warning lights over Reeves budget?
by Phillip Inman from Economics | The Guardian on (#6TQ58)
Reports that government could weaken employment rights bill as NI rise prompts fears of redundancies
When the latest labour market figures were being gathered in the run-up to Christmas by the Office for National Statistics (ONS), employers were only just beginning to digest a budget that will load about 25bn on to their wage bills.
The data from December showed pay increased in line with expectations, at 5.6%, but the unemployment rate was higher than City economists forecast, at 4.4%, and the number of vacancies fell for the 30th consecutive month.
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