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UK ‘to lose 163,000 jobs in 2026’ amid Iran war fallout, as oil price jumps again – business live

Rolling coverage of the latest economic and financial news

On Item Club’s forecast of falling employment this year, a UK government spokesman says:

“Recent figures show that there was an improvement in the labour market at the beginning of the year with unemployment falling below 5%, and 332,000 more people in work than a year ago.

“But we cannot escape the effects of the war in the Middle East which are likely to feed through to prices and employment in the coming months.

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May 11, 2026 Business Economics Stock markets

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