The UK jobs market posted a modest rise in new job adverts last month, suggesting early signs of resilience despite economic headwinds and growing pressure on employers from tax increases.
According to new data from the Recruitment and Employment Confederation (REC), the number of new job adverts rose by 0.3 per cent in May to 726,084, a small uptick that follows a prolonged slowdown in hiring. However, the total number of active job postings fell by 1.8 per cent to 1.44 million, underlining the market’s sluggish pace.
Neil Carberry, chief executive of the REC, said the labour market is “more stuck than going backwards”, noting that the slow growth in postings marks a second consecutive month of slight improvement, rather than a sign of deeper contraction.
“Despite the headwinds of tax rises and lower growth there seems to be some resilience,” Carberry said. “After a long jobs market slowdown, a second month of weak growth in new postings is a sign more of hope than concern.”
The tentative recovery comes against a backdrop of rising employer costs. A recent hike in national employment contributions and new government policies that will expand employee rights — including enhanced sick pay, maternity protections and unfair dismissal safeguards — have prompted employers to review hiring plans.
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