Rising job losses and cooling wage growth pose a challenge for Rachel Reeves
by Richard Partington Senior economics correspondent from Economics | The Guardian on (#6Z8ZS)
The NICs hike, tariffs and weak consumer spending have hit firms but there are crumbs of comfort for the chancellor
Britain's jobs market is in a challenging position. Job losses are rising, fewer employers are advertising for staff, and the resurgence of inflation is eroding the value of workers' pay. For Rachel Reeves this is bad news.
The latest figures showing a decline in the number of employees on company payrolls in July, alongside a slowdown in annual wage growth in the three months to June, underscore the challenge facing the chancellor.
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