The UK's employment outlook is stagnant, with the Employment Index falling further to 94.22 in June, reflecting nearly a 13-year low. Despite positive signals from the services sector, hiring remains subdued due to businesses facing heightened cost pressures from increased National Insurance Contributions. Payrolled employment figures showed a significant drop, indicating a potential uptick in job losses. Business confidence is also low, with the Optimism Index declining to 91.58. Although the BDO Output Index experienced a small increase, overall sentiment remains cautious, with expectations of continued low optimism in the second half of the year.
The Employment Index fell again in June to 94.22 from 94.32 the previous month, nearly at a 13-year low.
Despite some positive output signals from the services sector, hiring remains subdued as businesses continue to grapple with cost pressures.
Business confidence continues to remain underwhelming, with BDO's Optimism Index falling to 91.58 from 92.30 in the previous month.
The BDO Output Index rose from 97.16 in May to 97.51 at the end of June, marking two months of consecutive increase.
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