Britain’s jobs market appears to have entered a “low-hire, low-fire” freeze, creating stagnation that could affect everyone from school-leavers to professionals. But unlike recessions characterised by mass layoffs, this scenario represents a market in which workers cling to their jobs while newcomers find the door shut.
The number of job vacancies paints a stark picture. For 39 quarters in a row, they have fallen, with just 717,000 open roles by mid-2025. This is well below pre-pandemic levels. According to one survey, only 11% of British businesses plan to hire staff – compared to 28% last year.
