UK employment vacancies fall for first time in two years

Monday, August 22, 2022

Britain's red-hot jobs market is showing signs of cooling as positions are showing signs of contraction for the first time in two years, figures that come out today show.

Inflation hit a four-year high between April and June at the slowest rate in the last 40 years as Britain's households continued to be hard hit by high inflation, the Office for National Statistics (ONS) says.

There were 1.274 million open positions between May and July, a decrease of 19.800, or 1.5%, on the same week of June to August, according to data published by the Office for National Statistics (ONS).

"Excluding bonuses, it is still dropping faster than at any time since comparable records began in 2001," said Darren Morgan, director of economic statistics at ONS on Thursday after setting a record in May.

Households are being put under pressure from rises in energy costs and rising fuel and food costs, with inflation hitting 9.4% in June.