U.K. Vacancies Find Fewer Seekers as Job Market Tightens: ChartBy
Fewer Britons are chasing available jobs than at any time since at least 2001, underscoring the strength of the U.K. labor market. The number of unemployed people per vacancy dipped below 2 between March and May, compared with almost 6 in the aftermath of the Great Recession. While the figures provide ammunition for the hawks at the Bank of England, the continued weakness of pay growth is expected to keep interest rates at a record low for now.