Unions have criticised Tata Steel's decision to close its coke ovens at Port Talbot steelworks months earlier than expected.
Job creation and losses
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Continued labour shortages caused by a ‘smaller active workforce’ and skills shortages were behind a much lower number of job postings in February.
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Metro Bank has announced 1,000 job losses, with affected staff leaving in April 2024. Seven-day opening will also end.
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The youth economic inactivity rate continues to rise significantly, unlike other age groups, according to the ONS.
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Octopus Energy expects to create up to 4,000 jobs this year, launching a same-day hiring festival to quickly onboard talent.
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Recruitment activity has continued to weaken, a pulse check of the UK’s job market taken during February has found.
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Defence company Babcock International Group is creating more than 1,000 new jobs at its shipbuilding facility in Rosyth.
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Jobs in London and Southern England are expected to grow at a faster rate than the rest of the UK between now and 2027.
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Rolls-Royce Submarines is to create more than 200 jobs at new offices in Cardiff and Glasgow.
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Sainsbury's has announced plans to cut 1,500 jobs as part of an ongoing programme to streamline operations.
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Manufacturing giant Tata Group has confirmed it will invest £4bn in an electric vehicle battery plant in Somerset, creating around 4,000 jobs.
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According to the latest monthly jobs market data from Adzuna, vacancies fell below 900,000 in January for the first time since April 2021.
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The stores that will close immediately include four in London, where rents and other overheads are highest.
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There were more than 870,000 new job postings in January 2024, and 1.8 million active job postings in the UK – a 4.2% increase from December 2023.
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The Body Shop is set to appoint administrators this week, with job losses and store closures looking likely.