Hospitality and retail hit as job vacancies decline – Daily Business

Job vacancies in hospitality have declined (pic: DB Media Services)

Hospitality and retail were among the sectors worst hit by a fall in UK job vacancies to their lowest level in five years.

Initial estimates suggest the number of job openings fell by 28,000, or 3.9%, to 705,000 between February and April, its lowest level since April 2021.

The unemployment rate rose slightly to 5% in the three months to March, from 4.9% in the three months to February, according to the Office for National Statistics (ONS).

Average regular earnings growth fell to 3.4% in the first three months of the year, and was 0.3% higher after inflation was taken into account.

ONS director of economic statistics Liz McKeown said the latest figures “suggest the labour market remains soft, with vacancies at their lowest level in five years and unemployment higher than a year ago”.

“Lower-paying sectors such as hospitality and retail have seen some of the largest falls in vacancies and payroll numbers, both in recent months and over the last year,” McKeown said.

The number of people on payrolls in April also fell. Payroll employment figures dropped by 100,000 last month, according to the ONS.

However, Ms McKeown pointed out the figures come at the start of the new tax year, and they “carry greater uncertainty and have often seen larger than average upward revisions”.

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