UK job cuts accelerate amid Iran conflict uncertainty. British employers shed 11,000 payroll positions in March, the largest monthly decline since November, doubling February's job losses. The deterioration signals renewed caution in the labor market as businesses respond to energy price shocks from the seven-week conflict. Job vacancies have fallen to their lowest level in nearly five years, suggesting firms are tightening hiring plans. Economists attribute the weakness to rising energy costs impacting business confidence, compounded by earlier payroll tax increases and minimum wage hikes. While unemployment fell to 4.9% in recent months, the improvement masked rising economic inactivity. The International Monetary Fund warned Britain faces significant exposure to the conflict's economic fallout and projects unemployment could rise to 5.6% this year.
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