UK job vacancies tumble across the board
Summary
The job market in the UK is slowing down, with fewer job openings and a slight drop in the number of people working. Between May and July, job vacancies dropped by 5.8%, and the decline was most noticeable in the hospitality and retail sectors.Key Facts
- Job vacancies in the UK fell by 5.8% from May to July.
- The total number of job openings was about 718,000 during this period.
- Most industries saw a drop in job vacancies.
- The number of people on payrolls slightly decreased between April and June.
- The hospitality and retail sectors experienced the biggest reduction in jobs.
- Average wages grew by 5%.
- The unemployment rate remained steady at 4.7%.
- An estimated 8,000 fewer people were on payrolls in June compared to July.
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