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UK Job Market Struggles Amid Budget Uncertainty and Rising Costs

12/2/2025

30 5 Full Breakdown

Summary

Story summary

A recent poll shows UK consumer services and manufacturing facing declines as firms hesitate to hire amid Budget uncertainty.
The unemployment rate rose to 5% as firms froze recruitment due to higher National Insurance contributions and minimum wage hikes.
The youth worklessness crisis worsens, with 946,000 young people not in employment, education, or training, according to a HM Treasury spokesperson.

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Story summary

A recent poll shows UK consumer services and manufacturing facing declines as firms hesitate to hire amid Budget uncertainty.
The unemployment rate rose to 5% as firms froze recruitment due to higher National Insurance contributions and minimum wage hikes.
The youth worklessness crisis worsens, with 946,000 young people not in employment, education, or training, according to a HM Treasury spokesperson.