Job vacancies at five-year low as smaller firms scale back recruitment

"The UK labour market remains stuck in a low-churn limbo, with employers reluctant to hire, fire or offer bigger pay rises as they grapple with rising costs, intensifying global headwinds and heightened policy uncertainty."

— Suren Thiru , Academic

"Much more must now be done to bolster business confidence and unlock hiring by tackling cost pressures on firms."

— Patrick Milnes , Executive

"With underlying wage pressures remaining contained, there is little reason for the Bank of England to shift course, and we expect rates to remain on hold for the remainder of the year."

— Yael Selfin , Executive