UK payroll employment fell for the fifth consecutive month in June and wage growth slowed, in the latest sign that the government’s tax rises, a higher minimum wage and the US trade war are hitting the jobs market.
Employers cut the number of payrolled staff by 25,000 between April and May, the Office for National Statistics said on Thursday, revising its previous estimate of a 109,000 drop.
Early estimates for June showed a further 41,000 decline, leaving payrolled employment down by 178,000 or 0.6 per cent from June 2024, although these figures for the latest month are likely to be revised.
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