Day: 17 July 2025

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UK auto production for May 2025 slumps to lowest level since 1949

UK auto makers production slumps

New car and commercial vehicle production in the U.K. dropped by 32.8% last month, totalling 49,810 units, as reported by the Society of Motor Manufacturers and Traders (SMMT).

Excluding 2020, when factories were closed during Covid-19 lockdowns, U.K. vehicle production in May 2025 dropped to its lowest level since 1949 – that’s the worst performance in 75 years!

The significant drop in car production is largely attributed to ongoing model updates, restructuring efforts, and the effects of Trump’s tariffs, according to SMMT.

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UK jobs market slows as unemployment rises

UK labour market

The UK jobs market continued to lose momentum, with fresh data from the Office for National Statistics highlighting a notable slowdown.

Unemployment has climbed to 4.7%, reaching its highest level in four years, while job vacancies fell for a third consecutive year to 727,000—the lowest in a decade, excluding the pandemic dip.

Pay growth also eased, with average annual wage increases slowing to 5% in the March–May 2025 period.

Economists suggest the Bank of England may consider an interest rate cut next month to support employment, although rising inflation remains a complicating factor.

Firms appear hesitant to hire or replace staff, signalling broader economic uncertainty. While the ONS has urged caution around the collection of unemployment data, the trend points to mounting pressure in the UK’s jobs landscape.