Signs UK labour market continues to slow, pay rises below inflation & fewer job openings.

Info comes via a Reuters report citing surveys by data firm Brightmine and recruitment platform Indeed

• Private sector pay deals mostly held at 3% in the three months to May, below 3.4% inflation.

• Nearly 15% of firms offered lower raises of 2.5%, reflecting employer caution.

• Job vacancies fell 5% from late March to mid-June and are 21% below pre-COVID levels.

• UK is the only major economy tracked by Indeed with job openings below pre-pandemic levels.

• Graduate-level job ads hit lowest since at least 2018, with sharp drops in HR, accountancy, and marketing.

• AI may be contributing to reduced demand in some roles.

• No signs of a jobs slump yet, despite employer concerns over higher social security costs.

This article was written by Eamonn Sheridan at www.forexlive.com.