Jobs Market Suffers Worst Slump Since 2020 Under Reeves – Guido Fawkes

Jobs Market Suffers Worst Slump Since 2020 Under Reeves

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Britain’s jobs market is in freefall, suffering its worst slump since lockdown as Rachel Reeves’ tax hikes take their toll. According to KPMG and the Recruitment and Employment Confederation, the number of jobseekers is surging at the fastest rate since December 2020 – driven by a collapse in vacancies and a wave of layoffs, thanks to Reeves’ ‘Jobs Tax’ and a sharp rise in the minimum wage. Permanent hires have now dropped for 30 consecutive months, marking two and a half years of decline. The report points the finger at Labour’s business-bashing measures, warning it’s “unlikely that we will see an improvement” if the government doesn’t reconsider. REC CEO Neil Carberry said:

“It is even more important now that the Government reconsiders the scale of rising costs of employment after this week’s rise in National Insurance. A full review of the impact of the Employment Rights Bill, and changes to simplify compliance costs, would be welcomed by businesses across the country.”

Meanwhile, shops suffered a 5.4% drop in footfall in March compared to the same month last year, and a Deloitte survey shows half of households are holding back on spending as ‘Awful April’ bills hit. Labour’s ‘growth’ gaslighting continues to wear thin…