Recent official figures show a notable decline in job vacancies in the UK, with the number falling by 63,000 from March to May, coinciding with a slight increase in the unemployment rate to 4.6%. Economic experts warn of a weakening labor market, as firms are reluctant to recruit new talent or replace those who leave. Additionally, the initial rise in wages has slowed, indicating broader economic challenges. Despite warnings, analysts from Capital Economics emphasize that while labor demand is weakening, the job market is not in total collapse.
The number of available jobs fell by 63,000 between March and May, indicating a significant decline in job vacancies across the UK.
Feedback from our vacancies survey suggests some firms may be holding back from recruiting new workers or replacing people when they move on.
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