US and China extend 90-day tariff truce; UK unemployment rate steady as vacancies fall – business live

Tariff truce staves off triple-digit duties as US retailers start stockpiling for holiday season; UK labour market slows as employers hold off hiringTurning to the UK labour market, which is clearly losing momentum, with employers cutting back on bonuses and hiring.Suren Thiru, economics director at the Institute of Chartered Accountants in England and Wales, said:These figures signal growing turmoil in the UK labour market, with April’s leap in employment costs and a flagging economy pushing more businesses to actively cut headcount and cap pay awards.Wage growth is likely to weaken over the course of the year as softening economic conditions, rising redundancies and elevated staffing costs increasingly hinder pay settlements. Continue reading...

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