Job vacancies fall below 700,000 for first time since 2021 as unemployment rate falls - AOL

UK job vacancies fell below 700,000 for the first time since April 2021, highlighting cooling conditions in the labour market. The Office for National Statistics reported vacancies dropped by 21,000 in the three months to September, taking the total to about 691,000, the lowest level since April 2021. The unemployment rate inched down to 4.7%, while wage growth continued to lose momentum. Annual earnings growth was 3.7% excluding bonuses, slightly above economists’ 3.6% forecast, and 3.7% including bonuses between June and August. The biggest vacancy declines were in smaller firms citing higher labour costs, adding to pressure on the Bank of England’s rate outlook.