Without sounding defeatist all I have heard is bad things so far; the sector is over concentrated with more people obtaining phd's (and wanting to work in academia) than there are jobs available.
I am really enthusiastic about pursuing a phd and eventually a job in academia but to put it bluntly I'm not sure if I'm cut out for it. I will graduate this summer with a 1st in mathematics from a mid-level Russell group university and plan to apply for an MSc in Pure Mathematics (after a gap year). My final graduating grade will be 71% and I'm just unsure how that will hold up in the academia job market. I get the impression that to pursue a job in mathematics academia you have to be really outstanding, getting publications very early on and the such as it is so competitive. I feel like I'm at a crossroads now where I need to commit to the idea or not as I do not want to waste time, effort and (a lot of) money on a lost cause. I know there are so many factors involved and there is no definite answer but some advise would be extremely helpful.