UK hiring outlook hits post-COVID low as employer confidence weakens | Forexlive

UK data – The Chartered Institute of Personnel and Development (CIPD) employment intentions gauge fell from +13 to +8, the lowest level on record excluding the COVID-19 period

Large private-sector employers were the main contributors to the decline, reflecting broader uncertainty.

CIPD’s economist says hiring reluctance reflects weak business confidence amid rising costs and global uncertainty.

Separately, the KPMG and the Recruitment and Employment Confederation (KPMG/REC) survey showed another decline in recruiter job placements, though the pace eased slightly from March.

Overall demand for staff fell more sharply in April, reinforcing signs of a weakening labour market.

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The data aligns with the Bank of England’s recent signals that the labour market is softening, despite ongoing concerns about high wage growth. Q1 official wage figures are due from the UK on Tuesday – expected to show nearly 6% annual growth.

• CIPD puts median pay settlements at 3%

CIPD’s economist says hiring reluctance reflects weak business confidence amid rising costs and global uncertainty.

BDO employment gauge: BDO’s composite employment index hit a 12-year low in April, underlining the downturn.

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info via Reuters.