Bailey sounds alarm on AI as youth unemployment jumps AI could displace workers on a scale not seen since the Industrial Revolution, Bank of England governor Andrew Bailey has warned, as the UK jobs market shows fresh signs of strain. Bailey said the rapid adoption of AI across the economy was “most likely” to have a similar effect to past technological upheavals. “As you [...]
Britain needs to ‘encourage enterprising entrepreneurs’ to kick-start economy Business Britain “needs to be a nation of shopkeepers once again” and “encourage enterprising entrepreneurs” to boost its economic prosperity, the chief executive of recruitment giant Reed has said. Speaking on an up-coming episode of City AM‘s Boardroom Uncovered podcast, James Reed said if he was Prime Minister for the day, he’d “make Britain a destination [...]
Rachel Reeves’ tax hikes are ‘taking Britain back to 1980s’ as investors turn their backs Business Britain’s jobs market is being hollowed out just like it was in the 1980s thanks in part to Chancellor Rachel Reeves’ tax hikes, the chief executive of recruitment giant Reed has said, as the CBI warns the country is now seen as a less attractive place to invest than five years ago. James Reed said [...]
Brits resort to ‘job-hugging’ as tax hikes bite September 9, 2025 Workers are now resorting to ‘job-hugging’ after last year’s Labour tax raid had a chilling impact on the UK jobs market. The £40bn cash grab, unveiled by Rachel Reeves in last year’s Autumn Budget, has triggered a significant slowdown in hiring and has resulted in substantial job losses nationwide. As a result of these changes, [...]
Losses double at global recruiter despite sales passing £2bn August 5, 2025 Losses at a UK-headquartered global recruitment giant more doubled despite its revenue passing the $3bn (£2.2bn) mark during its latest financial year. Altrincham-headquartered NES Fircroft has posted a pre-tax loss of $67.7m for the 12 months to 31 October, 2024, according to new accounts filed with Companies House. The loss comes after the business also [...]
Scammers target struggling grads and school leavers amid jobs slump July 15, 2025 Young people applying for their first jobs are being confronted a double threat: a shrinking pool of entry level roles, as well as a surge in sophisticated job scams on social media. With graduate job postings down by a third year on year, fraudsters are exploiting the desperation of university graduates and school leavers by [...]
AI disrupts UK hiring for tech and entry level roles July 14, 2025 UK employers are significantly scaling back hiring roles at risk of being disrupted by artificial intelligence (AI), adding signs of a broader labour market slowdown. New data from McKinsey & Co revealed that online job postings fell 31 per cent in the three months to May, compared with the same period in 2022. Yet the [...]