Business

Brexit and Beast from the East blamed for poor jobs figures

Bad weather and the continuing impact of Brexit have been blamed for poor job figures in March

Statistics from recruiters Morgan McKinley show that the number of jobs available was down 14 per cent month-on-month and 37 per cent year-on-year.

The number of job seekers was down 22 per cent month-on-month and 44 per cent year-on-year.

The report said that “the figures continue to bear the stamp of Brexit” and noted that “both seasonal and weather forces were also at play”.

Read more: Travel disruption as UK feels second round of Beast from the East

Managing director of Morgan McKinley Financial Services Hakan Enver said: “These numbers dont reflect the enthusiasm were seeing on the ground. The unexpected Beast from the East and Easter took the wind out of Marchs job-market sails."

While both the number of jobs and the number of job seekers were down, wages rose in March by an average of 23 per cent.

“Irrespective of the sub-sector, were seeing wages go up," Enver said.

“A shortage in talent translates to better salary negotiating power for job seekers, making now a great time to move,” he added.

Read more: Consumer spending slows in March as weather keeps shoppers at home

The wave of cold weather that hit the UK and Ireland in February and March, dubbed the Beast from the East, hit sectors such as retail hard.

Consumer spending slowed in March as cold weather kept shoppers at home.

Data from Barclaycard found that consumer spending grew by 2 per cent in March, its lowest level since April 2016, dropping from 3.8 per cent in February.

In-store spending was particular affected, contracting by 1.9 per cent, as consumers opted to do their shopping online rather than braving the cold on the high street.

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