Private Sector Employment Falls for Ninth Month in a Row <\/p>\n
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The latest closely-watched S&P Global Flash PMI has worrying news for private sector employment. Down again\u2026<\/p>\n
Despite a\u00a0\u201cmarginal upturn in business activity\u201d from April\u2019s tariff lows private sector employment is down for the ninth month in a row and the rate of the drop off is actually increasing. Businesses report that \u201csqueezed margins\u201d and \u201cexcess capacity\u201d are forcing cutbacks. Employment Rights Bill coming up\u2026<\/p>\n
Chief Business Economist at S&P Global Market Chris Williamson said:<\/p>\n
\n\u201cThe UK economy remained in a sluggish state at the end of the second quarter, according to the early PMI survey data. Although business conditions have continued to improve since April\u2019s downturn, quelling recession fears, growth of business activity remains disappointingly lacklustre, indicative of second quarter GDP rising at only a 0.1% quarterly pace. Business confidence also remains in the doldrums compared to this time last year, losing ground again in June\u2026 Employment has hence continued to be cut as firms grapple with the combination of higher staffing costs, linked to last autumn\u2019s Budget, lower demand and subdued confidence.\u201d<\/p>\n<\/blockquote>\n
Business activity expectations for the coming year are down from May\u2019s six-month high. Downturns ahead of Reeves\u2019 next budget will put the frighteners on in the Treasury\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"Private Sector Employment Falls for Ninth Month in a Row mdi-fullscreen The latest closely-watched S&P Global Flash PMI…\n","protected":false},"author":2,"featured_media":207470,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[1194,51,1700,3582,16,15],"class_list":{"0":"post-207469","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-budget","9":"tag-business","10":"tag-economy","11":"tag-sp","12":"tag-uk","13":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114732340849810100","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/207469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=207469"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/207469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/207470"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=207469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=207469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=207469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}