ONS latest | Calls for action on youth & older worker employment as vacancies hit 10-year low

The UK’s labour market slowdown is raising concerns over opportunities for both young and older workers, as official figures show vacancies have fallen to their lowest level since early 2015.

The latest ONS data for May to July revealed a 44,000 quarterly drop in vacancies to 718,000 - the 37th consecutive decline - alongside further falls in payroll employment. The unemployment rate for April to June remained at 4.7%, while economic inactivity among those aged 16–64 eased slightly to 21.0%.

Employment stood at 75.3%, but the number of payrolled employees was 149,000 lower than a year ago. Early estimates for July pointed to a smaller-than-expected fall of 8,000, though wage growth remains high at 5.0% for regular pay, outpacing inflation.

Apprenticeship guarantee ‘essential’ for young people

James Cockett, senior labour market economist at the CIPD, warned that falling vacancies - particularly in hospitality and retail - risk shutting young people out of work.