UK Employers Cut 100,000 Jobs in April as Iran War Clouds Economic Outlook

According to the UK Office for National Statistics, as reported by Jin10 on May 19, UK employers slashed 100,000 jobs in April, far exceeding economists' forecast of 10,000 losses and marking a sharp acceleration after 28,000 job cuts in March, with retail sector accounting for the largest share of redundancies.

The three-month ILO unemployment rate rose to 5% in March from 4.9% in February, while job vacancies dropped to the lowest level since 2021. Economists are downgrading 2026 growth forecasts due to fresh energy shocks triggered by Middle East conflict, though the first quarter posted solid 0.6% expansion.