Britain's estimated job openings fell below 700,000 even as unemployment eased to 4.7%, giving job seekers fewer options ahead of the government's Oct. 28 budget, official data showed Tuesday.
The Office for National Statistics (ONS) estimated 691,000 vacancies in July through September, down 21,000, or 2.9%, from April through June. The last reading below 700,000 was for February through April 2021. Outside the pandemic period, the last figure at or below 691,000 was 686,000 in July through September 2014.
Construction had 7,000 fewer openings, the largest decline by number among the 14 of 18 industries where vacancies fell. Businesses with one to nine employees recorded 21,000 fewer vacancies, the biggest drop among employer size groups. The ONS said survey feedback suggested higher labor costs may be discouraging recruitment at some smaller businesses.
The unemployment rate covered the three months through August and was 0.1 percentage point below the previous quarter. Because estimates from the Labour Force Survey (LFS) remain volatile, the ONS advises focusing on longer-term movements when assessing changes in employment and unemployment.
Separate provisional data counted 30.3 million payrolled employees in September, up 13,000 from August but down 66,000 from a year earlier. That count measures employees on payrolls rather than everyone in employment.
In Great Britain, average regular and total weekly earnings each increased 3.7% from a year earlier in June through August. Regular pay rose 0.6% after inflation using a measure that includes housing costs.
The ONS's latest quality review found its unemployment estimates remain less precise than before the pandemic. ONS research discussed in earlier coverage of survey changes found that shifts in survey quality affected measured employment growth through 2023 and during 2024 and 2025.
HM Treasury has scheduled the budget for Oct. 28. The next ONS labor market release is due Nov. 17.
