In the quarter to September, job vacancies have notably dropped by 34,000 to 841,000, marking the lowest level observed since March 2021.
Despite a rise in employment of 373,000, which is the highest number since 1971, the overall trend shows a cautious outlook for future job growth.
Ben Keighley pointed out that while wages are increasing faster than inflation, the reduction in unemployment may not be fully indicative of a healthy job market.
David Freeman emphasized that interpreting labour market changes requires caution, due to differing data collection methods impacting payroll and survey results.
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