That is pushing potential layoffs to near historic lows, according to the Insolvency Service, a sign that businesses are still hoarding labour, afraid of being unable to rehire later on.
Hiring and firing in the UK jobs market is treading water as employers prepare for the new government to raise taxes and toughen up worker rights, a standstill that threatens to become a drag on the wider economy.
High-frequency indicators suggest the number of workers at risk of being laid off in 2024 so far is running almost 12% below levels a year earlier.
