Job vacancies in Britain slumped in April as uncertainty around the country’s European Union membership referendum and the introduction of a higher minimum wage made employers more reluctant to hire, a jobs website said.
Job openings dropped by 9 percent in April from March and were down a hefty 27 percent versus a year ago, the survey by job site Indeed showed on Tuesday, a day before the release of official jobs market figures.
The monthly release said the slump in recruitment began in March and accelerated in April when the government introduced a new and compulsory higher minimum wage of 7.20 pounds an hour, up from 6.70 pounds for workers aged 25 or above.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at firstname.lastname@example.org. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.