Large crowd of people commuting to work in London, England \u00b7 JohnnyGreig via Getty Images <\/p>\n
UK companies are cutting back on hiring for jobs that are more likely to be disrupted by artificial intelligence (AI), a study has found.<\/p>\n
The analysis by consultancy firm McKinsey & Co found that the overall number of job postings were down 31% in the three months to May, compared to the same period in 2022, according to a Bloomberg report<\/a>.<\/p>\n However, the drop in postings was found to be the most pronounced in roles expected to be more impacted by the rollout of AI, such as tech or finance. Listings for these roles declined 38% in that three month period, which nearly double the fall found elsewhere.<\/p>\n Tera Allas, a senior adviser at McKinsey, reportedly said: “The anticipation of significant \u2013 albeit uncertain \u2013 future productivity gains, especially as the technology and its applications mature, is prompting companies to review their workforce strategies and pause aspects of their recruitment.”<\/p>\n Read more: Bank of England could cut interest rates faster if jobs market slows, Bailey says<\/a><\/p>\n Some major companies have already suggested that their workforce will be impacted by AI. For example, Amazon CEO Andy Jassy recently warned that the rollout of AI across the tech company would likely result in jobs cuts in the coming years<\/a>. Meanwhile, BT Group (BT-A.L<\/a>) CEO Allison Kirkby said last month that advances in AI could deepen job cuts already underway at the telecoms company.<\/p>\n McKinsey’s study comes as data points to a broader slowdown in the UK jobs market. Figures from the Office for National Statistics, released in June, showed that the UK’s unemployment rate rose to 4.6% in April, the highest level since July 2021. Meanwhile, an early estimate of payrolled employees for May 2025 fell by 109,000, or 0.4%.<\/p>\n In addition, the ONS data showed that the estimated number of vacancies in the UK fell by 63,000 on the quarter, to 736,000 in March to May 2025.<\/p>\n Bank of England governor Andrew Bailey said in an interview with The Times<\/a>, published on Sunday, that the central bank ready to lower interest rates<\/a> further if the UK job market begins to show clear signs of slowing down.<\/p>\n Are you worried about the impact of AI on the jobs market? Vote in the poll below.<\/p>\n Yahoo UK’s poll of the week lets you vote and indicate your strength of feeling on one of the week’s hot topics. After the poll closes, we’ll publish and analyse the results each Friday, giving readers the chance to see how polarising a topic has become and if their view chimes with other Yahoo UK readers.<\/p>\n Read more:<\/p>\n Download the Yahoo Finance app, available for Apple<\/a> and Android<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Large crowd of people commuting to work in London, England \u00b7 JohnnyGreig via Getty Images UK companies are…\n","protected":false},"author":2,"featured_media":9369,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[181,28,9333,134,1150],"class_list":{"0":"post-9368","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jobs","8":"tag-artificial-intelligence","9":"tag-business","10":"tag-england","11":"tag-jobs","12":"tag-london"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/9368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=9368"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/9368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/9369"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=9368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=9368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=9368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}