Vacancies fall to 702,000, the lowest outside the pandemic since 2014, as payrolls drop 145,000 over the year

ONS data released 15 September put vacancies at 702,000 for June to August, the lowest outside the pandemic period since 2014, while payrolled employees fell 145,000 over the year to 30.2 million. A loosening jobs market usually pulls rate expectations down, but regular pay growth held at 3.5%, leaving the MPC a mixed signal on 17 September. For buyers, affordability tests stay tight while wages hold up; for sellers, weaker job security tends to slow buyer decisions. The August payroll figures are provisional and are often revised.