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ING’s Chris Turner reports a firmer EUR/GBP after UK labour data, with economist James Smith highlighting a cool jobs market and minimal wage pressures, implying little impetus for Bank of England hikes this year. Sterling money markets still price 60bp of BoE tightening into next year, which Turner expects to be gradually priced out, with EUR/GBP biased toward 0.8570/0.8580.Jobs data temper BoE expectations"EUR/GBP has opened up a little firmer on the release of the latest jobs data.""Nothing particularly earth-shattering in the latest UK jobs figures. Payrolled employment is down a touch – though this masks big differences between government (which is still actively hiring), consumer services (where job numbers are consistently falling and the pace of decline is getting worse) and the remaining private sector, which is flatlining.""The unemployment rate is up a touch, though the ONS has already revealed there are temporary sampling issues with the labour force survey underpinning it (on top of the well-publicised existing problems), so...

Vacancies in the UK jobs market have fallen to the lowest level since 2014, other than during Covid, with 6,000 fewer openings between May and July compared to the three months to April. While the overall unemployment picture remains steady at 4.9 per cent, private sector pay growth has also fallen to a six-year low as the British economy struggles to escape concerns over the increase in cost of labour. The Office for National Statistics (ONS) said its early estimates brings the level of job vacancies down to the lowest in more than five years, having slumped earlier in the year. In total, 707,000 job vacancies remained open. The ONS said its survey found that small firms may not be recruiting because of increased labour costs and other business expenses....

Documents reveal for the first time events surrounding the collapse of the company founded in 1834 with the closure of all 168 stores, and that unsecured creditors face losing tens of millions of pounds. Recently lodged papers on M&Co, which started its life in Paisley as a pawnbroker before entering retail in 1953 as Mackays by family owners Len and Ian McGeoch, show that more than 600 unsecured creditors will lose more than £33m. New documents show the case moved from administration to dissolution in June and administrators' reports set out the steps leading to the failure of the business. UK high street retail giant collapsed with 168 stores closed and 1,800 jobs lost (Image: Getty Images) Adele Macleod, Gavin Park and Robert Harding, of Teneo, were earlier appointed joint administrators in the second such event. The firm first fell into administration during the pandemic with 47 stores and 380 jobs lost at the time. ...

The number of employed people in the United Kingdom increased by 83 thousand to 34.469 million in the three months to June 2026, following a gain of 147 thousand in the previous period.The increase was the smallest since February, reflecting a decline in part-time employment that partly offset continued growth in full-time jobs.Compared with a year earlier, employment rose by 253 thousand, driven by increases in both full-time employees and part-time self-employed workers.The employment rate for people aged 16 to 64 stood at 75.1%, extending the broadly stable trend seen since mid-2024, while the rate for those aged 65 and over stood at 13.3%.By gender, the employment rate remained higher for men at 64.2%, compared with 57.4% for women.Meanwhile, the number of people holding second jobs increased over the quarter to 1.293 million, representing 3.7% of total employment. Source link...

Your support helps us to tell the storyFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read moreVacancies in the UK jobs market have fallen...

Your support helps us to tell the storyFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read moreVacancies in the UK jobs market have fallen...

LONDON: Artificial intelligence (AI) has raised the stakes of taking your first step up the career ladder – and made it tougher and costlier than ever. Georgie Blackburn, a Gloucestershire-based career coach, is one of the few beneficiaries. In a two-decade career advising everyone from senior executives to military leavers, she said most of her clients today are young people fresh out of university, up from just one in 10 two years ago. “I have seen it as a growth area for my business,” said Blackburn, whose early-careers services can cost up to £750 (US$1,010) and may direct people to volunteer work, internships or online courses to build experience. “A degree is not enough on its own, never has been, but even more so today.”The situation is particularly dire in Britain, where a youth-unemployment rate of 16.4% is the highest in a decade, and is rising faster than in any other G-7 country. The graduate premium over the minimum wage has been...

Morrisons, headquartered in Bradford, reported the reductions in its latest financial accounts, which show that its average monthly workforce fell from 101,144 to 96,232 in the year to October last year. This marks a loss of 4,912 jobs across the business. The job losses included more than 4,200 store positions, with additional cuts in food manufacturing and distribution. Nearly 5,000 jobs were lost at Morrisons last year A spokesman for Morrisons said: "Colleague numbers in the year ending October 2025 primarily reflect the impact of the closure of the newspaper home delivery service in convenience, the restructuring of the retail people team and the downsizing of the Rathbones bakery business. "There was no additional redundancy programme in stores, where numbers were only reduced by not replacing those who had chosen to leave." The cuts come as the company...

The latest U.K. unemployment figures show the rate remains at 4.9 per cent as Britain’s jobs market stagnates Vacancies are also falling Meanwhile the figures also show private sector pay growth at fallen to its lowest in six years and stands in contrast to a 6.1pc increase for the average public sector worker in the same period. Ben Harrison, Director, Work Foundation at Lancaster University said on the figures: Today’s figures indicate the UK remains trapped in a deepening jobs drought. Vacancies have fallen to the lowest level outside of the Covid-19 pandemic since 2014, and young people are facing some of the toughest conditions for finding work in more than a decade. “Unemployment remains unchanged at 4.9%, but the headline figure masks a particularly difficult jobs market for young people. Youth unemployment among 16-24 year olds now stands at 16.2% with nearly three quarters of a million young people out of work and looking for a job. “At the same time, vacancies...