The UK labour market is beginning to cool

Slowly but surely, the labour market in the UK appears to be cooling down. Data from the Office for National Statistics this morning shows the number of job vacancies across the economy fell by another 58,000 between July to September, taking the total figure to an estimated 957,000. This is still far above pre-pandemic levels, but the number has been dropping constantly, and is down again for a sixteenth consecutive period.