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CNET
2 hours ago
- Business
- CNET
Don't Make the Job Hunt Harder. 9 Strategies to Stay Sane and Get Hired
From ghosting to burnout, experts share how you can land a job in a brutal market. Jeffrey Hazelwood/CNET Stephanie Wandell applied to hundreds of jobs since getting laid off from a tech marketing role last November. When I spoke to her this summer, she'd been ghosted by recruiters and hadn't received any offers. "I was a little bit naive going into it, thinking I could do what I always do and depend on applying to as many places as I can," said Wandell. "It became pretty clear that this time is different." The job market feels tougher than ever. Just ask anyone who's out of work or take a look at my LinkedIn feed. Over the past several months, it's been filled with posts from laid-off professionals recounting grueling job searches, many lasting over a year. Headlines about the job market being "solid " genuinely get under my skin. They remind me that headline labor statistics aren't always reliable narrators. Even if official unemployment figures appear relatively low, millions of Americans are wading through choppy emotional and financial waters. According to Daniel Zhao, lead economist at the career and job search site Glassdoor, the health of the job market is actually measured by people's ability to get a job. With the economy on shaky ground, companies are pulling back on hiring, leaving job seekers in the lurch. Facing fierce competition for a shrinking pool of open positions, candidates are trying to master new strategies to get past AI screeners into the hands of a human recruiter. Some wait months for a response, only to be ghosted by HR departments. "Once workers lose jobs, they're having a tougher time finding new ones," said Odeta Kushi, deputy chief economist at First American Financial Corporation. Listening to these stories, I was left with a lot of questions. Why are so many qualified and talented workers getting the silent treatment? What is HR actually looking for? Should folks be using AI in their job search? Is the job search a universally miserable experience? I spoke with several career specialists to gather the most straightforward advice for helping job seekers on their journey. I also compiled a list of free employment resources and upskilling platforms below. 1. Be choosy, not generic Sending out hundreds of applications with the same resume might feel like the right approach but it's not the best use of your time. "We find many job seekers in the market haphazardly applying to any and/or all jobs instead of targeting relevant ones," said Chad Sowash of the Chad and Cheese Podcast, which covers recruitment technology, talent management and workforce economics. Instead of spending several hours applying to multiple jobs, use that time to tailor each resume toward the role you really want. Companies are becoming increasingly selective in their hiring practices so job seekers also need to be choosier about where they apply. "Not all positions and hiring companies will be a fit so don't try to be all things to all people," Sowash said. To narrow down your search, think about what you're looking for in terms of work environment and responsibilities, said Sam DeMase, career expert at ZipRecruiter. "Don't just throw spaghetti at the wall and see what sticks." Identify the value that makes you an exceptional candidate. "If your resume is very generic and doesn't speak to your specific superpowers, you're not going to get as many hits as you would with a hyper-tailored resume," DeMase said. 2. Make your resume ATS friendly When you apply to a job online, your resume likely won't go straight to a recruiter or hiring manager. Nearly all Fortune 500 companies use an applicant tracking system, or ATS, to process applications and dismiss candidates automatically. As my CNET colleague pointed out in a 2023 story on resume robots, the ATS software scans applications for a specific percentage of matching keywords, typically 70% to 80%. If there's not a high match with the posting, your application probably won't make it to the next stage, regardless of your qualifications. To create an ATS-friendly resume, read the job description thoroughly and note particular keywords, phrases or skills. If the requirements accurately align with your qualifications, add them to your resume using the same language. That said, don't go overboard. While keywords are important, stuffing your resume with too many can read as unnatural. Jobscan, Skillsyncer and multiple other online platforms provide free resume scanning tools geared toward optimizing your application for ATS. Zhao said resume keyword optimization isn't about "beating" the computer. It's about making sure recruiters and hiring managers see your skills and experience. Once you have the right balance of keywords, simplify your formatting to make it clean and concise, which helps the ATS and recruiters review your resume. Avoid using fancy headers and footers, graphics or tables, which often get garbled by the computer software. 3. Be ready to jump on job openings Set up multiple job alerts and be ready to act immediately on the openings you like the most. DeMase recommends being one of the first people to apply to the job posting so that your resume doesn't get pushed to a later round. "Unfortunately, these jobs are getting posted and have more than 100 applicants within 48 hours or sooner," said DeMase. If you have multiple versions of your resume ready, you can adapt quickly. Just because a posting is still up after several weeks doesn't mean the company is still reviewing applications or looking for new candidates. 4. Use AI as a tool, not a ghostwriter In 2024, more than 50% of job seekers used AI to draft resumes and cover letters. While generative AI tools like ChatGPT can speed up the writing process, they tend to produce generic, impersonal content. "One of the issues I see with job seekers who overly rely on AI is that their application ends up looking like everybody else's who is using AI as well," said Zhao. To avoid the same formulaic responses, provide detailed prompts that emphasize the parts of your application that align with the job description and make your background and experience unique. For example, you can ask the chatbot to review your cover letter and suggest ways to make it more compelling based on your abilities and interests. "It's important for people to think about how their resume distinguishes them, how their skill set, even if it's nontraditional, might give them a different perspective than other people in the candidate pool," Zhao said. 5. Don't sleep on networking Even in today's digital age, networking remains incredibly powerful for landing a job, especially considering that many roles aren't advertised online but filled through referrals. If you're new to networking, start reaching out to the people around you: family and friends, alumni and former co-workers. Ask them if they know anyone in a career field that interests you or works at a company you're curious about. "Folks can go quiet after a layoff, because there's a deep sense of shame, particularly in our society, where so much of our identity is associated with our work and our productivity," said Lisa Countryman-Quiroz, CEO of JVS Bay Area, a workforce development nonprofit. "It's important to fight through that, tap into your network and let people know you're looking." Instead of just requesting a job or connection, actively engage in conversations, ask thoughtful questions, share your own insights and look for ways to offer value, said DeMase. Sending out a handful of personalized emails will get you farther than dozens of generic copy-and-paste notes. 6. Build skills that help you stand out Showcasing competitive skills like data analysis, digital collaboration and AI tool expertise is crucial in today's job market. Instead of prioritizing traditional credentials like education, 76% of employers put greater value on actual work experience and demonstrated abilities, even if you're self-taught. "You can make yourself stand out by indicating the different things you've learned on your own and how that could apply to that employer," said Countryman-Quiroz. Free online courses, such as LinkedIn Learning or IBM SkillsBuild, can help you learn valuable skills or even obtain official certification. Local colleges and community centers frequently provide low-cost courses on anything from digital marketing to insurance licensing. If you've been unemployed for a long time, you can use courses and training to fill in the gaps on your resume, which shows that you're proactive and self-directed. 7. Brace yourself for ghosting For many, the toughest part of job hunting is never hearing back. Though being ghosted by an employer or recruiter can feel incredibly personal, it's not a reflection of your skills or qualifications. Research from LinkedIn found that almost 40% of candidates say they're applying to more jobs than ever and hearing back less. There are countless reasons why HR doesn't follow up: budget cuts, hiring freezes, internal shifts or too many applicants. You might never know the real reason. You can send a polite follow-up email to the hiring manager to demonstrate your continued interest, which may prompt them to respond. But try not to blame yourself or spend too much time dissecting why you didn't hear back. After being ghosted following multiple interviews, Wandell started The Job Ghosting Project, a list of anonymous stories from job seekers who've been ignored by companies. Within a week of posting the survey, Wandell received more than 500 submissions, with responses ranging from recent grads to high-level executives. "The goal is really just to document these patterns, validate the job seekers and push for accountability in the hiring process," said Wandell. 8. Take interview prep seriously Interview prep goes beyond knowing your resume and the role. You'll need to show why you want this specific job with this specific employer. Start with research. Look at the company's recent news, press releases, social media and reviews. Understand their latest projects, challenges and competition. Use the STAR method. Break down each requirement in the job description and connect it to a specific example from your experience. Practice structuring your answers using the STAR method (situation, task, action, result) to demonstrate your impact in a clear and concise way. Practice, practice, practice. Say your interview answers out loud, not just in your head. If possible, do a practice interview with someone you trust and get honest feedback. That can help identify awkward phrasing and make you more confident during the real thing. Prepare questions for the interviewer. Asking thoughtful questions of the hiring team shows your engagement and understanding of the role/company. 9. Be kind to yourself during the job search It's common to feel discouraged, stressed and embarrassed when faced with rejection. "The job search is a slog and you have to make sure that you're doing it in a sustainable manner," said Zhao. "You can't just apply to 100 jobs every day because you'll burn yourself out." Set clear boundaries for your job-hunting hours, schedule regular breaks and set up informal meetings to network. Focus on having a support system in place, especially with other people looking for work. Being in a group with people in the same situation can really "diminish the shame that so many feel around not being employed," said Countryman-Quiroz. After joining a job-seeker support group during a previous layoff, Wandell started her own group this past year. It started with five people and it's now grown to 50 to 100 participants. "It's a space for people to vent but also to ask questions, network and brainstorm," said Wandell. Read more: Layoffs Are Happening. How to Prepare if You Think You Might Lose Your Job Free job search platforms and upskilling resources We compiled a list of resources to help sharpen your skills and streamline your search. General job boards Industry-specific/niche job boards InHerSight: Organization providing career advice and job matching specifically for women. Jobs in Logistics: Job search site for employment in logistics, supply chain, transportation, inventory management and more. The Mom Project: Resource community geared toward working mothers seeking out family-friendly companies. Recruit Military: A military-to-civilian recruiting company connecting military veterans, transitioning military service members and their spouses with employment opportunities. Remote Jobs: Site curated by remote work specialist Rowena Hennigan, providing resources for remote work openings. SchoolSpring: National job board for teachers and others in education. Superpath: Job board for content strategists, writers and freelance bloggers. Working Nomads: Job search site for global remote work tailored specifically toward digital working nomads. VC Job Boards: Curated list of job boards featuring venture capital positions. Workplace development nonprofits STRIVE: Offers tuition-free skills training, job readiness support and personal coaching for those seeking to improve their career prospects. NPower: Provides part-time tech skills training, including IT, cloud computing and cybersecurity, with opportunities for paid internships. Goodwill: Offers job training and employment services, career development and financial literacy programs, as well as job placement assistance. Year Up United: Focuses on helping low-income young adults gain IT and business skills through paid internships and job placement. Upskilling Coursera: Offers courses, certificates, and degrees from top universities and companies, covering subjects like computer science, business and data science. Udemy: A vast online marketplace for courses, with options ranging from health and fitness to IT and software, and more. LinkedIn Learning: Provides courses on business, creative, and technology skills, taught by industry experts. Skillshare: A community-based platform for creative and curious people, with classes in illustration, design, photography and more. edX: Offers university-level courses from various institutions, including MIT and Harvard, covering a range of topics. IBM SkillsBuild: Provides free access to learning materials and certifications in areas like cloud computing and AI. HubSpot Academy: Offers free courses and resources on marketing, sales and customer service. Google Skillshop: Provides free digital skills training through online learning platforms. Microsoft Learn: Offers free online training and certifications on Microsoft products. freeCodeCamp: A platform for learning web development through online courses. MIT OpenCourseWare: Provides access to free MIT course materials.
Independent Singapore
5 hours ago
- Business
- Independent Singapore
'How do people manage multiple offers when I can't get one?' frustrated worker asks
Photo: Depositphotos/ tuaindeed (for illustration purposes only) SINGAPORE: In the highly competitive tech world, where securing one job can feel like one is climbing Mt. Everest, a recent Reddit thread resonated with many when a developer with three years of experience candidly opened up: 'I've been seeing posts in this community where folks are successfully managing multiple software engineering jobs at once. Hats off to you all! Honestly, I've found it challenging enough to secure one solid job, especially in this market.' The comments and responses poured in, and what followed was an unbridled, sometimes ruthless, but astute view of what it takes to not only endure but succeed in today's tech job market. Skill attracts more opportunities One commenter spoke of a rather dull, yet strangely precise, analogy: 'It's like attracting women—once you're attractive enough to attract one, you're attractive to a lot. Bottom line: be experienced and highly skilled.' It may sound frivolous, but it clinched the point. Once you've honed your skill set to the point where you're a strong standout, impetus builds. Swiftly, you're not chasing jobs anymore, because they're coming to you. The interview is a performance; master it! Another user gave a more thoughtful viewpoint, disclosing that their advancement came not through luck, but by way of genuine transformation. 'I mastered the performative art of interviewing… (I've stopped overthinking it), and it's made me more confident and likeable. I crack jokes, ask questions. I used to sweat bullets and tank interviews.' Their story isn't just about appeal or personality; it's about resilience. This netizen had been through it all — dismissals, refusals, performance upgrading plans. But with time, they figured out how to convert interviews into chances where they could sell their value, instead of just surviving cross-examination. Talent alone isn't enough—you need strategy Many comments mirrored a similar theme — being theoretically gifted or capable is just a chunk of the equation. 'It's largely skill and network… You've got to be top 10% in your field and a top 10% job hunter. Those are different skills.' And then there's the network—or lack thereof. Engineers who keep their heads down, especially in remote roles, often miss out on the casual channels where real prospects lie. 'People with strong networks don't even need to apply. They just say, 'I'm available,' and the offers come in.' Takeaway If you're stressed and couldn't land that first job, or if you are speculating about how others juggle two or more, understand that it isn't magic. It's a strategy. Here are common insights from those who've done it: Be good at your core craft—enough to stand out. Learn to connect, market yourself, and remain cool, especially under pressure. Treat job hunting as a distinct ability. It's a game, and you need to learn the rules. Build a network, even if you're reclusive. The Reddit poster who initiated the thread wasn't alone in feeling the burden. But if the remarks were anything to go by, the path from 'struggling to land one job' to 'balancing three paychecks' is flagged with constant upgrading, resilience, and a readiness to adapt, not just code. So, do you need side projects? Possibly. But more significantly, you need a plan. () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
Forbes
a day ago
- Business
- Forbes
66% Of Americans Feel The Job Market Is Nearly Impossible
Gen Z is grappling with the challenges of today's competitive job market. Welcome to the Hunger Games! Now, I know that the job market is far from the terror of Katniss Everdeen's bleak reality. However, for many, the entire hiring process can feel like trying to survive a fight to the finish with a glued-on smile and unyielding optimism that something, anything, will give you a glimpse of hope. Because let's face it: nothing feels more hopeless than trying to secure a job in 2025. In fact, according to the 2025 Workforce and Hiring Report by the leading hiring platform Greenhouse, despite continued confidence, nearly 7 in 10 candidates across all markets say the job market is extremely or very competitive (US: 66%, UK: 68%, Ireland: 63%), with more candidates than available positions. Why Is The Job Market So Challenging Today? Let's take a closer look at what Greenhouse found after conducting a multi-market survey of more than 2,200 full-time workers and temporarily unemployed job seekers from the United States, the United Kingdom, and Ireland. Interestingly, the study revealed that hiring automation, employer ghosting (or unresponsiveness), and bias have reshaped the hiring landscape as a whole. And in turn, this has led to a problematic response from candidates. What they found was that many job seekers were turning to multiple tools, such as AI agents and resume hacks. Some, (45%) were even going so far as to embellish their qualifications on resumes to improve their chances of getting noticed. In short, they were trying anything and everything to even have a shot. The hiring process has become an outright mess. And it's only getting messier by the minute. So, how do we clean it up? Is there a way to create a level playing field where potential candidates feel they can be seen and allowed to stand out, while also safeguarding the system from AI hacks and cheating? Several companies have already begun exploring various options. In fact, according to a recent article by CNBC, Google is considering moving away entirely from virtual interviews to prevent candidates from cheating with AI. But, is that even possible? Can we truly return to a time when Chat-GPT or Jasper AI did not influence applications and interviews? Now, before we place all the blame on technology and try our luck at going back to churning butter and waiting for slow wifi to boot our 1989 computers, let's take a quick look at how this reality is impacting the psyche of Gen Z. Because, here's the thing: before we can fix the problem, we need to find out how this specific issue is impacting the mindset of potential hires. And believe me, this generation of recent graduates is not having it easy right now. Why Does The Hiring Process Feel Like A Bad First Date? Imagine being right out of college, sharpening up your resume, and feeling like there's absolutely no way you even have a chance at getting an initial interview. This is the reality for many Gen Zers right now. They're having to put their best foot forward and try to win over an AI bot, before even securing a single human view of their CV. And, if that's not depressing enough, look at the recent trend noted by CBS. Scammers are now creating deepfakes to apply for remote job postings. In addition to this finding, Gartner, a global research and advisory firm, suggested that by 2028, nearly one in four job applicants will be fake. So, not only is an entire generation fighting to stand out amongst their peers, they're also trying to prove their skills against AI bots. AI is becoming one of the top tools utilized by candidates and employers during the hiring process. But that tool isn't always creating an ideal outcome for either. In fact, according to the BBC, AI hiring tools might be killing your chances at getting the best person for the job, especially when the sole evaluation process is built upon AI's detection and interpretation of how well someone responds to prompts. Absolutely! And Daniel Chait, CEO and Co-founder of Greenhouse, has some ideas on where to start. In a statement on the Greenhouse blog, he suggested, 'We don't need more friction or hoops to jump through; we need a hiring process that allows people's true selves to come through more clearly and more completely.' Chait went on to state, 'A more human and three-dimensional hiring process that helps candidates showcase their skills and focus their job search is the only way to cut through the chaos and connect the right people with the right roles.' Anggie Salazar, partner and brand strategist at CROING, a global creative agency, also suggested that creating spaces where applicants can show you their humanity is ideal. She revealed that at her company, 'our approach is deeply human—we're more likely to hire someone who sends a voice note or video with their application than someone who blends in with an AI-written cover letter.' So, is the job market a mess? Absolutely. But, is there hope of making it human again? I think so. To attract the best candidates, we should do everything possible to create environments where AI and humanity can coexist and collaborate to bring us exceptional new hires.
Yahoo
a day ago
- Business
- Yahoo
How to stay motivated during a long job hunt
It isn't an easy time to find a new job, especially for younger people. University graduates in the UK are facing the toughest job market since 2018, according to Indeed, with the number of roles advertised for graduates down 33% on last year. With more people searching for jobs than available openings, applicants say they are applying for hundreds of jobs before landing a role. Not only is it hard to keep firing off job applications when you're not hearing anything back, it's challenging to stay positive — and keep your head up. 'Job hunting can be emotionally and mentally demanding. You're putting yourself out there, often without feedback, and can face rejection, or silence from employers,' says career coach Jo Irving. 'It can chip away at your confidence, especially if you're tying your self worth to whether you get the job. The longer it takes, the more it can feel like a reflection of your abilities, even though that's rarely true.' Staying motivated is key when applying and interviewing because dips in motivation and confidence do affect the quality of applications. 'Research has found that candidates who feel powerless tend to make poorer applications,' says psychologist Dr Rob Yeung, a chartered member of the British Psychological Society. Read more: What the UK's NDA ban means for victims of workplace harassment 'Even when employers are evaluating written applications, candidates who feel powerless give themselves away perhaps in their word choice, the level of detail they provide or some other factors that make them less compelling.' Candidates who feel unmotivated may also struggle during interviews. Often, employers aren't just looking for technical competence but also confidence and engagement, explains Yeung. 'Chemistry also matters, which I think of as the ability of candidates to build rapport and to demonstrate that they are warm, likeable, enthusiastic human beings,' he says. 'Again, lacking in motivation may cause candidates to make a little less effort, which could make the difference between being hired and being relegated to the rejection pile.' Building structure into your day is important, says Katie Howarth, head of people at YuLife. 'Job hunting with no routine is a fast track to burnout. Give yourself a 'working day' with a start and end time, and schedule in proper breaks,' says Howarth. 'You don't need to be applying constantly to be making progress. Break things into chunks. One day can be research, the next updating your CV, then maybe applying to just a couple of well-matched roles rather than mass applying. People often forget, quality over quantity genuinely works.' It's also helpful to surround yourself with understanding, supportive people. Often, loved ones want to provide helpful advice when you just need to vent or focus on something that isn't job-related. 'Friends and family can sometimes be insensitive, unknowledgeable and unhelpful,' says Yeung. 'It can be useful to think about gently reducing contact with people who are draining your confidence and motivation. Think about getting a bit more advice or just emotional support from the people who are compassionate and positive.' Yeung also recommends thinking about a time when you felt powerful and in control. 'It could be when you instructed a colleague or solved a problem for them,' he says. 'Reminding yourself of times you felt powerful is a research-backed method to boost how you feel about yourself, which helps not only when you are getting ready to go to an interview but also when you are just getting ready to type your next application.' Breaking down the process of drafting applications and preparing for interviews is also helpful. Read more: Does mental health first aid work? 'Treat job hunting like a project,' says Irving. 'Set mini goals each week: apply to five jobs, attend a networking event, or update your CV. 'Crossing things off gives you momentum.' 'Ticking off small, clear goals, like tailoring one cover letter or hitting 'send' on that scary application gives you momentum,' says Howarth. 'And finally, balance. You need joy and rest in your life, especially now. Do things that make you feel accomplished outside of the job search. 'Moving your body, even for 10 minutes a day, connecting with people, getting outside — those things really do help clear the fog and reset your headspace.' Read more: Why neurodivergent workers pay the price for poor communication Why the pressure to be liked at work is holding women back Five soft skills that can help you get hired or promoted at workundefined Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Bank of England could cut interest rates faster if jobs market slows, Bailey says
The Bank of England (BoE) is ready to lower interest rates further if the UK job market begins to show clear signs of slowing down, according to governor Andrew Bailey. Speaking in an interview with The Times, Bailey expressed a cautious yet optimistic outlook, suggesting that 'the path is downward' for interest rates, currently set at 4.25%. While the next Bank of England meeting is scheduled for 7August, with many economists expecting a rate cut, the central bank's stance remains "gradual and careful" as inflation remains above target. Bailey said the UK's economy was growing behind its potential, opening up "slack" that would help to bring down inflation. He said: 'If we saw the slack opening up much more quickly, that would lead us to a different conclusion. 'I think the path [for interest rates] is down. I really do believe the path is downward but we continue to use the words 'gradual and careful' because … some people say to me, 'Why are you cutting when inflation's above target?'" Read more: FTSE 100 LIVE: London up and European markets dip amid fresh Trump tariff threats Slack refers to the amount of unused resources in an economy, such as working factories that are not producing anything or people who cannot find a job. Bailey's comments come amid growing market speculation, with investors now pricing in an 85% chance of a rate cut, up from 76% just a week earlier. The City is anticipating a 0.25 percentage point reduction, which would bring the BoE's key interest rate down to 4%, but market analysts are keeping a close eye on upcoming data, particularly inflation and employment figures. Victoria Scholar, head of investment at Interactive Investor, noted that the weak GDP figures, coupled with deteriorating jobs data, strengthen the case for a rate cut in August. 'Friday's disappointing GDP figures, combined with these weak jobs figures boost the case for the Bank of England to cut interest rates in August. The central bank's governor Andrew Bailey told The Times 'slack' was opening up in the labour market, and he believes 'the path is downward' for interest rates. 'All eyes are on Wednesday's inflation report with CPI expected to remain at remain around 3.4% in June, roughly unchanged for the third consecutive month.' Enrique Diaz-Alvarez, chief economist at Ebury, said the upcoming employment data could provide crucial insights into the health of the UK economy. 'Thursday's publication of the May/June employment data is critical, perhaps even more so than Wednesday's inflation report, which is expected to show little change from the previous month. By Thursday afternoon this week we, and the Bank of England for that matter, should have a clearer view of the extent of weakness in UK economic data. 'Last week's dismal monthly GDP print for May was not at all an optimistic sign, as this almost guarantees that Britain's economy contracted on a quarterly basis in the second quarter. Not only does this make an August rate cut from the Bank of England increasingly likely (almost 90% priced in by swap markets), but it also raises the risk of additional tax hikes in the autumn, which now seem practically inevitable.' Treasury minister Darren Jones hinted at the possibility of freezing income tax thresholds beyond 2028 in a bid to balance the public finances. Though Jones clarified that the government had no immediate plans to extend the freeze, he left the door open to further adjustments in the future. In an interview on ITV's (ITV.L) Good Morning Britain Jones said: 'The thing I can tell you is that our manifesto commitment coming into this election was that we were not going to increase the headline rate of income tax or employee national insurance on working people in the pay slips that people get when they go to work or on VAT because we know that that disproportionately affects people on lower incomes because they spend more of their money on the day to day shop, essentially." Read more: Pound hits three-week low as Bank of England governor hints at interest rate cut Bailey pointed to signs that businesses are adjusting employment practices and limiting wage growth as a result of the government's increase in national insurance contributions (NICs). From April 2023, UK employers saw a rise in NICs from 13.8% to 15%, expected to generate £25bn annually. Official figures recently revealed a drop in job vacancies, which fell to 736,000 in the three months leading to May, the lowest level since the height of the COVID-19 pandemic in 2021, when many businesses halted hiring. This, combined with declining economic growth, suggests that the UK labour market may be cooling. Jones, however, downplayed the broader economic impact of the government's tax policies. 'We've created hundreds of thousands of new jobs across the economy, and in the first quarter of this year, the UK had the fastest-growing economy in the G7,' he said. 'Of course, we had that particular tax decision in the budget last year, because our commitment was to protect working people in their pay slips. And I recognise the independence of the bank governor.' Read more: Chinese EVs take off in the UK as BYD closes in on Tesla Trending tickers: Lionsgate, Nio, Boeing, AstraZeneca and Fresnillo Bitcoin price hits all-time high as 'crypto week' begins擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
