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The UK labour market has suffered its worst month in more than a decade, according to a report by Bdo, a multinational network that provides accounting services, reported by the newspaper “The Telegraph”. According to the analysis, in August the labour market index recorded a decline for the fourteenth consecutive month, with a score of 95,89, the lowest since January 2013.
While a score above 95 still indicates modest growth, many companies have cut back or frozen hiring due to tough economic conditions. The decline in job postings suggests that recent interest rate hikes are starting to weigh on the economy, the report said.
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© Agenzia Nova – Reproduction reserved