UK job market sees longest downturn since early 2000s, PMI shows

The UK labor market contracted for a 24th consecutive month in September, marking the longest downturn since the early 2000s and surpassing the post-2008 financial crisis slump. The S&P PMI data indicates sustained employer staff reductions, signaling persistent labor market weakness. This suggests ongoing economic fragility in the UK, with implications for consumption and monetary policy.