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[BUSINESS] · United Kingdom · 4 sources

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East of England businesses cut hiring as UK job vacancies hit five-year low

UK job vacancies East of England businesses small business costs employment trends Federation of Small Businesses

UK job vacancies have dropped to 707,000 for the period between May and July, the lowest level in over five years according to the Office for National Statistics.

In the East of England, which maintains a higher-than-average employment rate of 78.3%, small businesses are facing significant financial pressure. The Federation of Small Businesses (FSB) reports that 86% of regional firms saw costs rise during the second quarter, while over half experienced falling revenues.

Factors contributing to the hiring slowdown include rising energy costs, increases to National Insurance, and higher minimum wages. The FSB warns that approximately one-quarter of local businesses expect to shrink, scale back, or close entirely in the near future. Representatives note that upcoming legislative changes regarding zero-hours contracts may further impact sectors like retail and hospitality, disproportionately affecting younger workers.

Entities

Candy Richards · East of England · Federation of Small Businesses · Office for National Statistics

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Sources

Why East's businesses are cutting back on hiring (as job vacancies hit five-year low) [www.becclesandbungayjournal.co.uk]
17 days ago
Why East's businesses are cutting back on hiring (as job vacancies hit five-year low) [www.derehamtimes.co.uk]
17 days ago
Why East's businesses are cutting back on hiring (as job vacancies hit five-year low) [www.lowestoftjournal.co.uk]
17 days ago
Why East's businesses are cutting back on hiring (as job vacancies hit five-year low) [www.northnorfolknews.co.uk]
17 days ago