Originally posted by SchumiStars
View Post
It seems a good chunk of the general uk jobs market is doing very well, while interest rate sensitive sectors like IT and construction are badly hit.
This prevents the BOE from cutting rates.
"According to the latest figures from job search platform Adzuna, the average advertised salary hit £42,278 in April, a rise of 8.9% year-on-year, marking the steepest annual increase since June 2022. On a monthly basis, salaries rose by 0.75%, further complicating the Bank of Englands efforts to justify additional interest rate cuts.
Sectors seeing the strongest demand for workers included healthcare, which hit its highest vacancy level since January 2023, as well as hospitality, logistics, teaching, and retail.
The construction and trade sectors, by contrast, recorded a sharp 15.2% decline in vacancies, reflecting cooling activity in those industries."
Comment