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Reuters
2 days ago
- Business
- Reuters
UK labour market cooled rapidly in June, KPMG/REC survey shows
July 14 (Reuters) - Britain's labour market cooled sharply in June and the number of people available for work jumped at the fastest pace since the COVID-19 pandemic, a survey of recruiters showed on Monday. The Recruitment and Employment Confederation trade body and accountants KPMG said their index of staff availability rose to 66.1 from 63.3 in May, the highest reading since November 2020. Only the pandemic, the global financial crisis of 2008-09 and the immediate aftermath of the Sept. 11 attacks in the United States have resulted in higher readings of slack in the labour market. REC and KPMG said the latest readings reflected unusually high levels of uncertainty rather than a sudden downturn in Britain's economy. "Ongoing geopolitical turbulence and the threat of rising costs, alongside the promise of technology efficiencies, mean companies continue to wait and see with their hiring," said Jon Holt, group chief executive at KPMG. The survey is watched by Bank of England officials who are increasingly relying on unofficial gauges of the labour market because of problems with some official data. The BoE is widely expected to cut interest rates next month. Starting pay for new recruits and demand for staff cooled, adding to signs that the labour market is losing momentum. Figures due out from the Office for National Statistics on Thursday are expected to show a similar slowdown in pay growth. British economic growth contracted unexpectedly in May, according to official data published last week. While U.S. President Donald Trump remains unpredictable on his approach to trade tariffs, last month's publication of the British government's industrial strategy might increase certainty among companies' hiring plans, Holt said.
Yahoo
02-07-2025
- Business
- Yahoo
ADP National Employment Report: Private Sector Employment Shed 33,000 Jobs in June; Annual Pay was Up 4.4%
ROSELAND, N.J., July 2, 2025 /PRNewswire/ -- Private sector employment shed 33,000 jobs in June and annual pay was up 4.4 percent year-over-year, according to the June ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). The ADP National Employment Report is an independent measure and high-frequency view of the private-sector labor market based on actual, anonymized payroll data of more than 25 million U.S. employees. The jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data to provide a representative picture of the private-sector labor market. The report details the current month's total private employment change, and weekly job data from the previous month. Because the underlying ADP payroll databases are continuously updated, the report provides a high-frequency, near real-time measure of U.S. employment. This measure reflects the number of employees on ADP client payrolls (Payroll Employment) to provide a richer understanding of the labor market. As of January 2025, ADP's Pay Insights measure captures nearly 14.8 million individual pay change observations each month, up from nearly 10 million when it launched. "Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month," said Dr. Nela Richardson, chief economist, ADP. "Still, the slowdown in hiring has yet to disrupt pay growth." June 2025 Report Highlights* View the ADP National Employment Report and interactive charts at JOBS REPORT Private employers shed 33,000 jobs in JuneJob losses in professional and business services, and education and health services led the decline. Leisure and hospitality, and manufacturing showed gains. Change in U.S. Private Employment: -33,000 Change by Industry Sector- Goods-producing: 32,000 Natural resources/mining 8,000 Construction 9,000 Manufacturing 15,000 - Service-providing: -66,000 Trade/transportation/utilities 14,000 Information 5,000 Financial activities -14,000 Professional/business services -56,000 Education/health services -52,000 Leisure/hospitality 32,000 Other services 5,000 Change by U.S. Regions - Northeast: -3,000 New England -10,000 Middle Atlantic 7,000 - Midwest: -24,000 East North Central 4,000 West North Central -28,000 - South: 13,000 South Atlantic -21,000 East South Central 20,000 West South Central 14,000 - West: -20,000 Mountain -20,000 Pacific 0 Change by Establishment Size - Small establishments: -47,000 1-19 employees -29,000 20-49 employees -18,000 - Medium establishments: -15,000 50-249 employees 12,000 250-499 employees -27,000 - Large establishments: 30,000 500+ employees 30,000 PAY INSIGHTS Pay gains held steady in JuneYear-over-year pay growth for job-stayers was little changed for June at 4.4 percent compared to 4.5 percent in May. Pay growth for job-changers was 6.8 percent in June, down slightly from 7.0 percent last month. Median Change in Annual Pay (ADP matched person sample)- Job-Stayers 4.4%- Job-Changers 6.8% Median Change in Annual Pay for Job-Stayers by Industry Sector- Goods-producing: Natural resources/mining 4.5% Construction 4.6% Manufacturing 4.6% - Service-providing: Trade/transportation/utilities 4.2% Information 4.1% Financial activities 5.2% Professional/business services 4.2% Education/health services 4.6% Leisure/hospitality 4.7% Other services 4.2% Median Change in Annual Pay for Job-Stayers by Firm Size - Small firms: 1-19 employees 2.7% 20-49 employees 4.1% - Medium firms: 50-249 employees 4.7% 250-499 employees 4.8% - Large firms: 500+ employees 4.8% To see Pay Insights by U.S. State, Gender, and Age for Job-Stayers, visit here. * Sum of components may not equal total due to rounding. The May total number of jobs added was revised from 37,000 to 29,000. The historical data file and weekly data for the previous month are available at To subscribe to monthly email alerts or obtain additional information about the ADP National Employment Report, including employment and pay data, interactive charts, methodology, and a calendar of release dates, please visit The July 2025 ADP National Employment Report will be released at 8:15 a.m. ET on July 30, 2025. About the ADP National Employment Report®The ADP National Employment Report is an independent measure of the change in U.S. private employment and pay derived from actual, anonymized payroll data of client companies served by ADP, a leading provider of human capital management solutions. The report is produced by ADP Research in collaboration with the Stanford Digital Economy Lab. The ADP National Employment Report is broadly distributed to the public each month, free of charge, as part of the company's commitment to offering deeper insights of the U.S. labor market and providing businesses and governments with a source of credible and valuable information. About the ADP ResearchThe mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policymakers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world. About ADP (NASDAQ – ADP)Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are trademarks of ADP, Inc. All other marks are the property of their respective owners. Copyright © 2025 ADP, Inc. All rights reserved. ADP-Media View original content to download multimedia: SOURCE ADP, Inc.
Yahoo
25-06-2025
- Business
- Yahoo
UK jobs surveys send fresh cool-down signals
LONDON (Reuters) -Britain's labour market is showing further slowdown signs, according to surveys published on Wednesday which pointed to below-inflation pay growth and a fall in job vacancies, especially for graduate-level jobs. Most pay settlements offered by private sector employers held at 3% in the three months to the end of May - lower than the most recent inflation reading of 3.4% - and almost 15% of firms gave smaller raises of 2.5%, data firm Brightmine said. "Private sector employers are holding steady at 3%, taking a more cautious approach as, they wait for firmer economic signals," Sheila Attwood, data lead at Brightmine, said. Separate figures from recruitment platform Indeed showed a latest fall in job vacancies which were down 5% in mid-June from their level at the end of March. Vacancies were 21% below their pre-pandemic level, leaving the UK as the only advanced economy tracked by Indeed with job openings lower than before the coronavirus pandemic. The share of graduate-level posts advertised was its lowest since at least 2018 with the biggest drops in human resources, accountancy and marketing, typically areas most vulnerable to a slowdown in the economy. Indeed said the fall could also be linked to the impact of artificial intelligence on some job roles. However, the weakening of the overall jobs market did not represent a slump, despite warnings from employers about the impact of April's increase in social security contributions ordered by finance minister Rachel Reeves. Retail postings were down 2% since April, while in food service they were 10% lower. Hospitality and tourism job postings were down 11%, Indeed said. The Bank of England is watching the jobs market for its inflationary pressures as it considers when to cut interest rates again. Governor Andrew Bailey on Tuesday pointed to a slowdown in pay growth. (Writing by William Schomberg, editing by Andy Bruce)
Reuters
24-06-2025
- Business
- Reuters
UK jobs surveys send fresh cool-down signals
LONDON, June 25 (Reuters) - Britain's labour market is showing further slowdown signs, according to surveys published on Wednesday which pointed to below-inflation pay growth and a fall in job vacancies, especially for graduate-level jobs. Most pay settlements offered by private sector employers held at 3% in the three months to the end of May - lower than the most recent inflation reading of 3.4% - and almost 15% of firms gave smaller raises of 2.5%, data firm Brightmine said. "Private sector employers are holding steady at 3%, taking a more cautious approach as, they wait for firmer economic signals," Sheila Attwood, data lead at Brightmine, said. Separate figures from recruitment platform Indeed showed a latest fall in job vacancies which were down 5% in mid-June from their level at the end of March. Vacancies were 21% below their pre-pandemic level, leaving the UK as the only advanced economy tracked by Indeed with job openings lower than before the coronavirus pandemic. The share of graduate-level posts advertised was its lowest since at least 2018 with the biggest drops in human resources, accountancy and marketing, typically areas most vulnerable to a slowdown in the economy. Indeed said the fall could also be linked to the impact of artificial intelligence on some job roles. However, the weakening of the overall jobs market did not represent a slump, despite warnings from employers about the impact of April's increase in social security contributions ordered by finance minister Rachel Reeves. Retail postings were down 2% since April, while in food service they were 10% lower. Hospitality and tourism job postings were down 11%, Indeed said. The Bank of England is watching the jobs market for its inflationary pressures as it considers when to cut interest rates again. Governor Andrew Bailey on Tuesday pointed to a slowdown in pay growth.
Bloomberg
10-06-2025
- Business
- Bloomberg
FTSE 100 Live: UK Sheds Most Jobs Since Pandemic
Real pay growth also remains positive, at 1.4% for regular pay and 1.5% for total pay including bonuses in the three months to April. That is a slowdown on the previous period, the ONS said.
