{"id":64784,"date":"2025-08-13T10:02:12","date_gmt":"2025-08-13T10:02:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/64784\/"},"modified":"2025-08-13T10:02:12","modified_gmt":"2025-08-13T10:02:12","slug":"uk-jobs-market-cools-as-vacancies-fall-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/64784\/","title":{"rendered":"UK jobs market cools as vacancies fall"},"content":{"rendered":"<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Average wage growth remained at 5%, the unemployment rate was unmoved at 4.7% and an estimated drop in people on payrolls &#8211; down 8,000 between June and July &#8211; signalled a &#8220;very gradual cooling&#8221;, according to former Bank of England policymaker Andrew Sentence.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He pointed out that there are more than 30 million people on employer payrolls in the UK.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The ONS has said payroll numbers should be treated with caution and it is taking additional steps to address concerns about the quality of the data.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Nevertheless, Ashley Webb, UK economist for Capital Economics, said the &#8220;modest fall&#8221; in payroll data &#8220;suggests that the fallout in the jobs market from the rise in business taxes and the minimum wage&#8221; is calming down.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">In April, the National Living Wage rose from \u00a311.44 to \u00a312.21.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">At the same time, National Insurance Contribution by employers rose from 13.5% to 15% while the salary threshold triggering payment by firm was lowered from \u00a39,100 a year to \u00a35,000.<\/p>\n","protected":false},"excerpt":{"rendered":"Average wage growth remained at 5%, the unemployment rate was unmoved at 4.7% and an estimated drop in&hellip;\n","protected":false},"author":2,"featured_media":64785,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[64,63,99,180],"class_list":{"0":"post-64784","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jobs","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-jobs"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/64784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=64784"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/64784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/64785"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=64784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=64784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=64784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}