London worst for job losses
LONDON saw the steepest rate of job cuts in July according to Markit’s UK regional purchasing managers’ indices (PMI) published yesterday.
The survey showed employment levels were falling at their fastest pace for five months, registering 39.9 on the PMI employment index compared to the UK average of 43.6.
Tim Moore, economist at Markit, said: “Continued job shedding in all parts of the UK indicates that firms are still looking to cut capacity.”
But business activity in the capital is growing modestly, recording 52.1 in July compared to 51.8 in June.