Pedestrians passing a closed retail unit in Preston, UK. Recent official data showed the UK unemployment rate hit a five-year high of 5.1% in the final quarter of 2020. – REUTERSPIXBritain’s labour market is “the sick man of Europe” despite the nation’s rapid coronavirus vaccination drive and state support for private sector wages, a study suggested on Tuesday.
A positive figure indicates that more employers plan to increase rather than decrease hiring, but a negative number reflects the opposite. “This has been the weakest twelve months for the UK’s jobs outlook in 30 years – much worse than the 2008/2009 crisis.”“But the current message is clear: most employers are cautiously observing the impact of the vaccine rollout and the longer-term effects of Brexit before taking major decisions on recruitment,“ he said