Rachel Reeves’ tax raid leads to thousands of job losses as wage growth cools July 17, 2025 Thousands of jobs were lost in June, official data has shown, putting the Bank of England under greater pressure to deal with the consequences of Chancellor Rachel Reeves’ £20bn tax raid at its next interest rates decision in August. Bank Governor Andrew Bailey has warned that “softening” in the labour market could force rate-setters to [...]
Bank of England looks for jobs data revisions ahead of rate decision July 15, 2025 The Bank of England will be looking out for any revisions to the number of people pushed out of work on Thursday when the Office for National Statistics (ONS) publishes fresh jobs data, with an interest rate decision set to hinge on the extent of the deterioration in the labour market. Last month, the official [...]
UK Hospitality launch campaign to undo budget ‘hammer blow’ to sector July 9, 2025 Industry lobby group UK Hospitality has launched a campaign to reverse the “unfair” tax burden on the sector, #TaxedOut. The body has been vocal about the damage caused by higher taxes announced in the Autumn budget, estimating that 69,000 jobs have been lost since last October. “The 2024 Budget was a hammer blow to hospitality… [...]
Not on the High Street slashes jobs as losses widen July 9, 2025 Not on the High Street has continued to slash jobs in a bid to stem its widening losses amid falling sales. The Bristol-headquartered business cut its headcount in March this year having also shed 70 members of staff in the year to 31 March, 2024. The update has been revealed in newly filed accounts with [...]
Financial and professional services sector ‘bedrock’ to UK economic growth July 3, 2025 The UK-based financial and professional services industry has continued to be "a bedrock of national economic strength", with nearly 2.5m people employed
Carmarker Lotus: ‘No plans’ to shutter UK factory despite fears of closure June 28, 2025 Lotus has said it has ‘no plans’ to close its Norfolk factory despite media reports that the carmaker may move production to the US. Reports on Friday suggested that the company’s Hethel factory – which employs 1,300 people – could be closed within a month, but Lotus said it is “continuing normal operations” in a [...]
Bailey watching labour market softening ‘very closely’ June 26, 2025 Andrew Bailey has said his Monetary Policy Committee are watching signals of a rapidly softening labour market “very closely” in the wake of several soft employment readings and stark warnings of a slowdown from the recruitment industry. The Governor of the Bank of England told the British Chambers of Commerce’s summit that sticky wage growth [...]
Retail shrinks by over 360,000 jobs in a decade June 10, 2025 The number of retail jobs in the UK has shrunk by more than a tenth since 2015, according to new data. There were 2.76m jobs in retail in March 2025, 360,000 fewer than in 2015, according to the latest report by the ONS. The number of full-time jobs has fallen by 117,000 since 2015, while the number [...]
TikTok to create over 500 UK jobs as major plans revealed June 9, 2025 TikTok is to create more than 500 UK jobs and open a second office in London, it has been revealed. The Chinese-owned social media firm has confirmed its UK workforce will expand to 3,000 by the end of 2025 and it will open a new 135,000 sq ft office in London’s Barbican. The group already [...]
One in ten retail jobs at risk in the next three years June 6, 2025 Cost pressures in UK retail mean one in ten jobs are at risk of disappearing by 2028, according to a new report. The number of jobs in retail has already dropped by over 350,000 since 2015, a fall nearly ten times bigger than the total number of jobs in the steel industry, the British Retail [...]