Demand for UK labour hits lowest level in a decade

BDO Employment index

Demand for workers in the UK hit its lowest level since August 2013, according to BDO’s Employment index for December.

December also marked the sixth consecutive month where the index fell, reaching 99.1 points, the accountancy firm noted. UK GDP grows 0.3% in November but fails to alleviate 'precarious' economic situation It added that, despite slowing pay growth, the labour market is expected to unwind further, with unemployment rising and vacancies decreasing over the year ahead. Economic consultancy Cebr has also forecast the unemployment rate to reach a high of 4.6% in Q2 and Q3 2024, BDO highlighted. In contrast, the accountancy firm noted its Output and Optimism indices rose in December b...