Job vacancies fall below 700,000 for the first time in over five years while small firms blame labour costs
Outside the Covid years, Britain has not had so few job openings since 2014, with 691,000 vacancies after a drop of 21,000. The unemployment rate fell unexpectedly to 4.7%, but Labour has raised employers' National Insurance and the minimum wage. Chancellor John Healey delivers his first Budget next week. The Work Foundation's Ben Harrison warned the UK is still 'amidst a jobs drought'.
Construction suffered the biggest fall in vacancies of any sector.
ICAEW economist Suren Thiru called the slide 'a flashing red warning light'.
Total pay growth including bonuses is now at its most sluggish in nearly six years.
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
