Bank official warns of ‘low-hire, low-fire’ UK jobs market

Bank of England Deputy Governor Claire Lombardelli has warned that weak hiring is making it harder for people to enter or change jobs in the UK.

Claire Lombardelli works at the Bank of England. She warned about few new jobs in the UK.

Employers are waiting to hire people. They keep their current workers.

This helps people with jobs. It makes new jobs hard to find.

Young people have the biggest problem. Hospitality and retail often give young people their first jobs.

A long wait for a first job can cause problems later. It can affect work and pay.

Lombardelli also said interest rates could rise again soon. The Bank of England will look at economic data and energy prices.

Section: Business

More articles