Job Market Suffers Worst Slump in More Than Four Years Under Labour – Guido Fawkes

Job Market Suffers Worst Slump in More Than Four Years Under Labour

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The job market is in free fall as Labour gears up for a wealth tax raid in the run-up to the autumn budget. According to KPMG and the Recruitment and Employment Confederation, jobseeker numbers are surging at their fastest pace in more than four and a half years – driven by a collapse in vacancies and a wave of layoffs. Starting salary growth has also slowed, as businesses slam the brakes on hiring…

Neil Carberry, Chief Executive of the REC, warned:

“There is more volatility month by month in the jobs market right now, as employers assess a complex picture and hire when they need to, but not yet at the rate they might want to. Much of that hesitation stems from the scar tissue left by the Spring tax hikes and fear of further business tax rises.”

Speculation is swirling over fresh tax raids this autumn, as Reeves scrambles to plug multi-billion pound black holes left by a series of u-turns. “Going for growth” under Labour is fast becoming “growth going”…