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UK private sector employment shrinks at fastest pace since 2021

16 December 2024
in Business
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UK private sector employment shrinks at fastest pace since 2021
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UK companies are cutting employee numbers at the fastest rate since the pandemic, with private sector employment falling in December due to tax increases and new regulations. Manufacturers’ confidence in the economy also dropped sharply in the final quarter, leading to concerns about hiring and price increases. The Bank of England is expected to keep interest rates on hold as they monitor the impact of higher taxes on businesses and the overall economic outlook.

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