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London worst for job losses

LONDON saw the steepest rate of job cuts in July according to Markit&rsquo;s UK regional purchasing managers&rsquo; indices (PMI) published yesterday.<br /><br />The survey showed employment levels were falling at their fastest pace for five months, registering 39.9 on the PMI employment index compared to the UK average of 43.6.<br /><br />Tim Moore, economist at Markit, said: &ldquo;Continued job shedding in all parts of the UK indicates that firms are still looking to cut capacity.&rdquo;<br /><br />But business activity in the capital is growing modestly, recording 52.1 in July compared to 51.8 in June.