Britain has recorded the steepest decline in hiring intentions of any major European economy, as employers struggle with the fallout from last autumn's £26bn payroll tax raid and brace for another squeeze in the Chancellor's November Budget. Data from recruiter ManpowerGroup UK shows the UK labour market is slowing at a pace unmatched elsewhere in Europe. The margin has since collapsed to just 11 points, marking a 17-point fall over the past year.
Despite the introduction of strict return-to-office mandates at a handful of large companies, including the retail company Amazon and the asset management giant BlackRock, many UK workers prefer remote working.