Story perspectives
G7 Faces Job Market Crisis Amid Tax and Wage Hikes
12/27/2025
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Story summary
- The G7's worst hiring slump is tied to Chancellor of the Exchequer Rachel Reeves's tax policies and minimum wage increases.
- Indeed data show job adverts fell 12.3% since the October 2024 Budget.
- Jack Kennedy, senior economist at Indeed, attributes the decline to higher employer National Insurance contributions, substantial minimum wage hikes, and the Employment Rights Act.
- This combination has produced a cautious job market with fewer new postings.
