Job vacancies slump to a five-year low as small firms cut hiring over rising labour costs before the Budget
Vacancies fell by 21,000 to 691,000 in the three months to September, the fewest since 2014 outside the Covid years. ICAEW chief economist Suren Thiru called it 'a flashing red warning light' for jobs. Firms are coping with higher employer National Insurance, a bigger minimum wage and new workers' rights. Unemployment fell unexpectedly to 4.7%, a boost for Chancellor John Healey before his Budget.
Total pay growth, including bonuses, slowed to its weakest rate in nearly six years.
Work Foundation director Ben Harrison warned Britain is 'still amidst a jobs drought'.
Construction suffered the biggest drop in job openings of any sector.
More
LBCUK’s jobless rate falls but shrinking vacancies a ‘bitter blow’ to jobseekersBBC News - BusinessJob vacancies fall as small firms cut back on recruitmentDaily Mail NewsUnemployment rate dips to 4.7% while earnings growth rises to 3.7% one week before the BudgetLBCUK unemployment falls to lowest in a year but vacancies slide furtherThe GuardianSurprise drop in UK unemployment to 4.7%GB NewsWage growth slows to weakest pace in nearly six years as UK jobs market 'in drought'The IndependentUK unemployment falls to lowest in a year - but vacancies drop to five-year low to underline jobs challengeCity A.M.Job vacancies fall below 700,000 for first time in over five yearsReutersSterling rises as strong labour market data reinforces rate hike betsReutersUK jobs market shows some recovery signs as BoE mulls rate hikeThe HeraldScotland unemployment falls to 4.3 per cent, below UK averageIrish TimesUK unemployment falls to lowest in a year but vacancies slide
