"The number of employees on payroll has fallen again, with reductions over the last year concentrated in retail and hospitality, and reflecting ongoing weak hiring activity. Wage growth in the private sector has slowed to its lowest rate in five years, while public sector wage growth remains elevated reflecting the continued impact of some pay rises being awarded earlier than they were last year."
"The number of employed people in the UK has fallen again, particularly in shops, restaurants and hotels, reflecting weak hiring, while private sector wages grew at the slowest rate in five years, official figures show. Figures from the Office for National Statistics (ONS) showed the number of employees on payrolls fell by 184,000 in December compared with a year earlier, to 30.2 million."
Payroll employment fell by 184,000 year-on-year in December to 30.2 million, with reductions concentrated in retail, restaurants and hotels. The unemployment rate remained 5.1% in the three months to the end of November, with 1.8 million unemployed. Private-sector wage growth slowed to 4.5% excluding bonuses and 4.7% including bonuses, the weakest in five years. Public-sector wage growth remained elevated due to some pay rises being awarded earlier. Vacancies have fallen below the pre-Covid average. Employers have become more reluctant to retain staff or advertise new roles after higher employers' national insurance and an increased minimum wage.
Read at www.theguardian.com
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