The latest Office for National Statistics labour market data estimates payrolled employees in the UK decreased by 9,000 between August and September 2024.
The UK employment rate for people aged 16 to 64 years was estimated at 74.8% in July to September 2024. This is largely unchanged on a year ago, but up in the latest quarter.
Jane Gratton, Deputy Director Public Policy from British Chamber of Commerce, said: “Despite some easing, wage pressures remain stubborn, increasing costs for businesses.”
She added: “Recruitment difficulties are also weighing hard on businesses, with our latest research showing that over three-quarters of SMEs are still struggling to find staff with the skills they need.
“Further employment costs are also on the horizon for firms. The increase in employer National Insurance contributions, the rise in the National Living Wage announced in the Budget and the Employment Rights Bill will add further financial pressures.”