UK unemployment rate falls in pre-budget boost, but firms keep cutting vacancies – business live

The UK unemployment rate has fallen to its lowest level in a year, providing a pre-budget boost. While regular pay growth rose in the last quarter, overall wage growth slowed when accounting for bonuses. Job vacancy estimates decreased by 21,000 to 691,000 between July and September 2026, falling below 700,000 for the first time since 2021. Vacancies declined in 14 of 18 industry sectors, with the construction sector experiencing the most significant reduction.