According to a high-profile survey, the UK job market is experiencing the longest round of downturn since the beginning of this century, and the period of contraction has surpassed the period of the global financial crisis. According to the S&P Global UK Purchasing Managers' Index, companies have been cutting employees for the 24th month in a row. This data will cause Andy Burnham's administration to worry before announcing the budget later this month. Energy shocks continue to intensify, and the development of artificial intelligence may curb companies' demand for labor. Companies have been laying off workers since the Labor Party government raised wage-related taxes and minimum wages soon after coming back to power in 2024. However, there are also some signs that the employment slump may be bottoming out. The service sector saw the smallest layoffs in almost a year. Furthermore, the UK's official unemployment rate is still far below the level after the global financial crisis.

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