Job vacancies in the UK have fallen to a record low according to new research by the Office for National Statistics (ONS).
ONS’ figures show that there are approximately 333,000 vacancies in the UK currently, just under 500,000 fewer than there was this time last year.
Furthermore, it is 463,000 fewer vacancies than there were in the three months leading up to the lockdown.
The data for the period of April to June 2020 is at the lowest level since the ONS set up the Vacancy Survey back in 2001.
The low vacancy levels are thought to have been caused by the economic uncertainty facing the country following the Coronavirus pandemic.
The motor vehicle sector and hospitality industry have both seen record quarterly falls in job vacancies in their fields, both down 70% and 91% respectively.
Despite record numbers of people being out of work at present, unemployment levels are not currently rising however.
Analysis by the ONS has suggested that this is due to workers being out of jobs but not actually searching for employment.
Reacting to the news, senior UK economist Dan Hanson said: “The unemployment rate continues to provide a false read on the health of the jobs market.
“A wider set of indicators suggest there has been a marked deterioration.
“We expect the labour market to weaken as the year progresses and the government’s furlough scheme is wound down.”
