Job Market Holds Steady

Job market holds steady

In May, the unemployment rate stood at 6.3%, unchanged from the previous month and 0.1 percentage points lower than the same period last year. Meanwhile, the employed population increased by 2.6% year-on-year.

Are rising employee expenses killing the job market?

The job market in the UK is facing an unprecedented crisis, and there are signs that it may get worse. Unemployment has risen to 4.6 per cent in the three months prior to May 2025, the highest it has been in four years, but there are 63,000 fewer jobs listed during the same period. Rising employment costs are also being blamed for the lack of new hires, pay rises, and retentions. Many businesses are already struggling to keep pace with rising op…

Can the job market survive rising employee expenses?

The UK job market is in a perilous position at the moment and there is no suggestion that it will get better soon. Unemployment is the highest it has been in four years, having risen to 4.6 per cent in the three months prior to May 2025, but there are 63,000 fewer jobs listed during the same period. The lack of new hires, pay rises, and retentions is being blamed on rising employee expenses. The cost of living is increasing, the cost of doing bu…