Soaring energy prices and disrupted trade are forcing firms to scale back hiring, according to the British Office for National Statistics
UK employers axed 100,000 jobs in April, the steepest monthly drop in five years and the latest sign that a weakening labor market is being dragged down by the prolonged conflict in Iran.
Data released by the UK’s Office for National Statistics (ONS) on Tuesday showed employers struggling with soaring energy costs after oil and gas prices jumped following the effective closure of the Strait of Hormuz during the US-Israeli military campaign against Iran.
Tax data showed the number of payrolled employees in…
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