UK job vacancies at lowest level in years amid tough business trading conditions

• Job vacancies in the UK fell by 8,000 quarter-on-quarter to 702,000 in the three months to August, reaching a five-year low.
• Small businesses reported that rising wage bills and increased labour costs were holding them back from recruiting new staff.
• Total wage growth slowed to 3.9 per cent in the three months to July, putting pensioners on course for a 3.9 per cent state pension uplift next year.
• The UK unemployment rate held steady at 4.9 per cent, though early estimates show payrolled employee numbers dropped by 26,000 in August.
• Policymakers are expected to keep interest rates on hold at 3.75 per cent on Thursday, though economists warn a rate hike could follow in November.

IN FULL

Job vacancies hit five-year low as small firms scale back new hires