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

Rolling coverage of the latest economic and financial newsVacancies fell particularly sharply across the construction sector, suggesting Britain’s builders cut back on hiring last summer.The ONS reports:Vacancy estimates decreased on the quarter, with early estimates for July to September 2026 suggesting a decrease of 21,000 (2.9%) vacancies to 691,000, compared with April to June 2026; this is the first time the total has been below 700,000 since February to April 2021.Vacancy estimates decreased in 14 of the 18 industry sectors, compared with April to June 2026; the largest industry decrease was in construction (down 7,000 vacancies).Vacancy estimates decreased in 4 of the 5 employment size bands, compared with April to June 2026; the largest decrease was for businesses with 1 to 9 employees (down 21,000 vacancies).This is mainly from smaller firms, who continue to suggest that they may not be recruiting because of increased labour costs.7am BST: UK labour market data10am BST: ZEW index of eurozone economic sentiment10am BST: Eurozone construction output for August2.30pm BST: BIST Committee questions Secretary of State Jonathan Reynolds Continue reading...