Summary
The jobs market in the UK is seeing fewer job openings and slower wage growth. According to the Office for National Statistics, job vacancies have been dropping for three years, and pay growth slowed to 5% from 5.2%.
Key Facts
- The UK jobs market is experiencing a decline.
- Job vacancies in the UK have fallen to 727,000.
- This marks the third year in a row with fewer job openings.
- Wage growth was 5% between March and May this year.
- Previously, wage growth was slightly higher at 5.2%.
- The Office for National Statistics collects and reports these figures.
- Some companies may not be hiring new employees or replacing those who leave.
