# Vacancies tumble to lowest in five years – ONS

By Susannah Streeter — 2026-06-18

Susannah Streeter, chief investment strategist at the Wealth Club, said: “The fall in vacancies to a five-year low is another sign that the UK jobs market is losing momentum.

“Employers are becoming more hesitant about taking on new staff as they try and cope with an uncertain economic outlook and deal with higher wage costs.

“For young people hoping to get their first break in the jobs market, it’s a highly unwelcome trend.

“Entry-level positions are often among the first roles to be cut back when businesses become more selective about recruitment.

“The sharp decline in vacancies among smaller firms is a big worry, given that these businesses have traditionally played a vital role in providing opportunities for younger workers taking their first steps into the world of work.

“A more subdued hiring environment risks making it harder for school leavers and graduates to secure jobs, adding to concerns about the high number of NEETs – young people not in education, employment or training.

“For Bank of England policymakers, the figures are likely to provide some reassurance that labour market pressures continue to ease.

“A less competitive jobs market should help take some more heat out of wage growth over time, which will be welcomed by those worried about inflation becoming embedded in the economy.

“It reinforces expectations that policymakers are likely to keep rates on hold for now, especially given that inflation in May stayed stable.

“With the jobs market continuing to cool, there appears little urgency to tighten policy further.

“While one set of labour market data won’t be make or break for decisions on interest rates, it adds to the evidence that inflationary pressures are gradually easing, so decision makers are set to adopt a cautious wait-and-see stance, and indicate they are in no hurry to raise rates.”

Canonical: https://experts.pressassociation.com/expert/43/views/c47f60b0302761f9