Arabic version: انخفاض الوظائف الشاغرة في المملكة المتحدة إلى أدنى مستوى في خمس سنوات

According to BBC News, UK job vacancies fell to 707,000 in the three months from May to July, their lowest level in more than five years. The Office for National Statistics said smaller firms were cutting recruitment, citing labour and operating costs.

Energy costs have risen since the Iran war began, while businesses have said increases in National Insurance and the minimum wage have made employing staff more expensive. The ONS described the labour market as “little changed overall”, with unemployment holding at 4.9%. The number of payrolled employees fell by 13,000 in June, with early estimates indicating another 13,000 fall in July.

Regular earnings, excluding bonuses, grew by 3.5% annually in the three months to June. Public-sector pay growth was 6.1%, reflecting the timing of the latest NHS pay awards, while private-sector growth slowed to 2.8%, its weakest pace for nearly six years. Suren Thiru of the Institute of Chartered Accountants in England and Wales said employers were reluctant to hire, fire or offer larger pay rises while facing rising costs, global headwinds and policy uncertainty.

Pat McFadden, the Secretary of State for Work and Pensions, said there were “signs of progress” and pointed to Universal Credit changes and employment support for people with health conditions and disabilities. Shadow chancellor Mel Stride said vacancies were at their lowest in more than five years and unemployment remained high. The British Chambers of Commerce said confidence was at a post-pandemic low, while the TUC urged the government to end what it called “exploitative” zero-hours contracts.