U.K. Employers Slow Down on Hiring Amid Economic Uncertainty
Allwork
SEPTEMBER 8, 2023
Despite the slowdown in hiring, starting salaries for employees have seen a slight rise. Reuters reports that the Bank of England is grappling with the challenge of determining whether the economy is cooling sufficiently to curtail wage growth, which peaked at a record 7.8% The goal is to bring inflation back to its 2% target.
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