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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

UK interest rate rises are taking the labour market off the boil

A job vacancy sign at a souvenir shop
The latest labour figures from the ONS showed a fall of 55,000 in the number of vacancies in the three months to April. Photograph: Christopher Thomond/The Guardian

There are signs the Bank of England’s interest rate rises are making businesses think twice about hiring staff, bringing down the number of vacancies.

Pushing in the same direction, the high cost of living is driving more people back into the workforce.

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