Pantheon Macro: UK labor market remained stable in March

Golden Ten Data reported on April 13 that Pantheon Macroeconomics stated that despite increased geopolitical uncertainty, the UK labor market remained stable in March. According to the employment report from the Centre for Economics and Business Research, the number of permanent job placements in the UK remained at the highest level since September 2022. Additionally, data from the Centre for Economics and Business Research was collected between March 12 and March 25, during which the US and Iran had not yet reached a preliminary ceasefire agreement, which may have provided some boost to market sentiment. However, geopolitical tensions may still put pressure on the labor market. Given that the Middle East conflict is unlikely to be resolved quickly in the short term and that energy prices may remain high for an extended period, we still expect recruitment activity to be weak in the coming months.