Good morning.
UK job vacancies have fallen for the first time since August 2020, in a further sign that cost-of-living crisis could push Britain into a recession.
The number of open jobs among employers fell by 19,800 to 1.27m in the latest quarter, according to the ONS. While that’s still very high by historical standards, it’s the first decline in two years.
Meanwhile, the number of people in employment rose by 160,000. That’s a 46pc fall in job creation from the previous quarter.
In a further sign of the squeeze on household budgets, real pay tumbled 3pc when adjusted for inflation – the biggest drop since records began in 2001.
5 things to start your day
1) Rough gas storage site cleared to start filling up within weeks: The move will allow the facility to start filling up for the winter within weeks
2) Private equity swoops for cybersecurity company Darktrace: Chicago-based Thoma Bravohe has entered into early negotiations with the UK tech firm
3) Ousted WeWork founder raises $350m for ‘seismic shift’ in home rental: Adam Neumann secured the cash for…
