UK job vacancies drop to their lowest level in five years
Vacancy figures have fallen to a five-year low, the smallest count recorded since the pandemic began.
The latest Office for National Statistics data show vacancies slipping to 635,000, down from 788,000 in early 2020. The number did not rise above 700,000 again until mid-2021 and has only been lower than today’s level since 2014, when it hovered around 702,000. Historical ONS records back to 2001 also indicate that one outlet level exceeds figures from the early 2000s.
Why it matters
The decline signals a tightening labour market, influencing hiring practices and wage growth.
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