British talent recruitment consultancy Walters said on Tuesday that until the new government's first budget at the end of this month, British job seekers and employers have suspended their activities. CEO Toby Fowlston said, “All the evidence suggests that insurance taxes may increase. This could have an impact on costs, so employers still have many concerns. “Earlier, Treasury Secretary Rachel Reeves said the possibility of increasing national insurance taxes paid by businesses in the first budget on October 30 is not ruled out, as the government is looking for ways to fill the £22 billion black hole in public finance. Fowlston said other legislation, including the Employment Rights Act and raising the minimum wage, has also had an impact on the UK job market. Official data on Tuesday showed that in the three months ending August, wage growth in the UK was the slowest in more than two years, and job vacancies fell again. Walters, which specializes in recruitment for the legal, accounting and technology industries, said it is expected that the UK recruitment market will not show any signs of recovery until 2025.

British talent recruitment consultancy Walters said on Tuesday that until the new government's first budget at the end of this month, British job seekers and employers have suspended their activities. CEO Toby Fowlston said, “All the evidence suggests that insurance taxes may increase. This could have an impact on costs, so employers still have many concerns. “Earlier, Treasury Secretary Rachel Reeves said the possibility of increasing national insurance taxes paid by businesses in the first budget on October 30 is not ruled out, as the government is looking for ways to fill the £22 billion black hole in public finance. Fowlston said other legislation, including the Employment Rights Act and raising the minimum wage, has also had an impact on the UK job market. Official data on Tuesday showed that in the three months ending August, wage growth in the UK was the slowest in more than two years, and job vacancies fell again. Walters, which specializes in recruitment for the legal, accounting and technology industries, said it is expected that the UK recruitment market will not show any signs of recovery until 2025.