Hospitality Jobs Drop as UK Services Employment Plunges Since October 2024

Since October 2024, Britain’s services sector employment has declined for 18 consecutive months, the longest hiring downturn in 16 years, per S&P Global PMI data. Pubs and restaurants are hardest hit, with over 100,000 jobs lost since October 2024 amid a £26 billion tax increase, sharply higher business rates, National Insurance, minimum wage, energy, and borrowing costs. The January survey showed hiring contracting at a steeper pace as firms automate and avoid replacing leavers. The unemployment rate reached 5.1%, the highest since the pandemic, while a reading of 54 for services activity (up from 51.4 in December) signals expansion, but not job growth.