UK Job Vacancies Falling As Employers Struggle With Costs
Published / Last Updated on 15/04/2025
Unsuprisingly, new employment vacancies in the UK are falling.
Figures released by the Office for National Statistics (ONS) confirm the average number of jobs available dropped to 781,000 in the first quarter of 2025. This is the lowest figure in 4 years.
The cause is no doubt due to:
- Concerns for economic slowdown globally as Trump tariff threats dampen confidence.
- Massive Empolyers National Insurance Contribution increases to 15% of all empplyee income earned above £5,000 pa (reduced from £9,100) with no upper limit.
- Huge National Living Wage and Minimum Wage increases of up to 42.99% for some younger ages in just 2 years.
|
Age Band |
Minimum Wage 2023 |
Minimum Wage 2024 |
Minimum Wage 2025 |
% Increase in 2 years |
|
National Living Wage 23ys+ |
£10.42 per hour |
£11.44 per hour |
£12.21 per hour |
19.94% |
|
National Minimum Wage 21-22ys |
£10.18 per hour |
£11.44 per hour |
£12.21 per hour |
33.51% |
|
National Minimum Wage 18-20ys |
£7.49 per hour |
£8.60 per hour |
£10.00 per hour |
42.99% |
|
National Minimum Wage Under 18ys |
£5.28 per hour |
£6.40 per hour |
£7.55 per hour |
42.99% |
|
National Minimum Wage Apprentice |
£5.28 per hour |
£6.40 per hour |
£7.55 per hour |
19.94% |
In addition, many employees earning above national living and minimum wage rates are demanding pay rises to keep pace with much higher rates of inflation over the last few years as well as wanting to maintain their pay margins over and anove the above minimum rates.
Comment
Is it any wonder that unemployment is up, redundancies are up, and recruitment is down?