Data shows labour market is still in a fragile position due to economic uncertainty, with few signs of recovery
Britain’s jobs market is “floundering” amid weak hiring demand, with only limited signs of recovery, data has revealed.
Companies remain cautious about hiring staff amid cost pressures and economic uncertainty, according to two reports released on Monday. They show the labour market continues to be in a fragile position.
A monthly employment index from BDO, an accountancy and consultancy firm, is running at its weakest level in nearly 15 years. It has had its worst reading since March 2011, when the jobs market was still recovering from the financial crash.
The index – which monitors trends in hiring intentions, headcount and demand for labour – was 93.30 in February, the same figure as January, continuing a run of multi-year lows. Any figure above 95 represents growth and anything below shows a contraction.
