The number of job vacancies fell for the 19th time in a row, down 26,000 to 932,000 in the three months to January, according to the latest figures from the Office for National Statistics.
The unemployment rate across the UK fell to 3.8% in the final three months of 2023, down from 3.9% in the three months to November. It marked the lowest level seen since the November 2022 to January 2023 period.
Jane Gratton, Deputy Director Public Policy at the British Chambers of Commerce, said: “Fewer vacancies show the labour market is softening but firms are still reporting difficulties finding skilled staff and the large number of inactive workers is concerning.
“To grow our economy we need more skilled, engaged and motivated people to contribute to the workforce in every part of the UK.
“Government must do more to remove barriers for people who want to work, including access to childcare, public transport, health support and training.
“By offering more flexible workplaces, training and upskilling, employers can make their jobs more accessible to a broader talent pool and help prevent people from leaving the workforce unnecessarily.
“The BCC’s own research indicates the labour market remains tight for many. Unless we get more people back into the workplace then the risk of higher inflation and interest rates will persist for longer.”
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