Latest data shows that job adverts have dropped since the announcement of the rise in National Insurance last year.
In the four months following the Autumn Budget, job vacancies fell by 15.1% across the country compared to four months before.
And while it is considered normal for the volume of advertised jobs to fall during this period, it was 30% higher compared to previous years.
Interestingly, while London’s job market stayed relatively steady (dropping by just 0.4%), other cities saw more significant figures.
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Some of the biggest drops in advertised jobs included:
- Nottingham (23%)
- Liverpool (22%)
- Norwich (22%)
- Warrington (21%)
Commenting on the findings, Lee Biggins, CEO of CV-Library, said, “These figures make it clear that there has been an immediate response to the budget in anticipation of higher employment costs to come. There is no doubt the promised increase in NI costs has hit hiring”.
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