UK Job Market Faces Longest Slump Since Financial Crisis Amid AI Adoption
The UK job market is experiencing its longest downturn since the 2008-2009 financial crisis, with firms reducing headcount for 22 consecutive months. According to S&P's purchasing managers' index (PMI), the services sector has been particularly affected, with companies cutting jobs to reduce costs and investing in artificial intelligence to improve productivity. The Labour government's policies, including increased payroll taxes and minimum wage hikes, have been cited as contributing factors. Despite the job losses, the overall economy showed signs of growth in July, driven by consumer spending and demand for technology services. 
