UK jobs market cooling as vacancies fall again
The UK’s job market is continuing to cool and growth in wages has slowed, according to the latest official statistics.
The number of job vacancies has fallen while growth in the number of employees on payrolls has slowed, the Office for National Statistics (ONS) said.
The unemployment rate remained at 4.4% in the three months to May.
Wages growth slowed to 5.7% in the same period, but is still outpacing rising prices.
“We continue to see overall some signs of a cooling in the labour market, with the growth in the number of employees on the payroll weakening over the medium term and unemployment gradually increasing,” said Liz McKeown, ONS director of economic statistics.
“Earnings growth in cash terms, while remaining relatively strong, is showing signs of slowing again.
“However, with inflation falling, in real terms it is at its highest rate in over two and a half years.”
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