UK’s ‘low-hire, low-fire’ jobs market hurting young people; US inflation higher than expected – business live
- Employers are hiring less, while redundancies remain low.
- Young people face greater difficulty entering work.
- The Bank says labour-market shifts may affect wages and growth.
The UK’s jobs market is cooling mainly because employers are hiring less, rather than making more staff redundant, according to Bank of England deputy governor Clare Lombardelli. She said this pattern protects people already in work but makes it harder for jobseekers to enter employment or move to…