UK Job Market Cools but Remains Tight as Recession Risks Linger
• Job postings on Indeed up 10% vs pre-pandemic but down from 48% growth last December, indicating cooling labour market • Economist notes labour market remains tight and imbalance in labour supply/demand only gradually easing • Advertised salaries still growing at 7% annually vs 4.2% in US and 3.8% in euro zone • Percentage of remote/hybrid job ads has dropped from 16.3% peak in May to 14.4% in October • Economist says soft landing still possible for UK but recession risks remain