The Office for National Statistics published its October labour market figures this morning, 20 October 2026. Vacancies fell by 21,000 to 691,000 in July to September, down 37,000 on the year and the first reading under 700,000 since February to April 2021. It is the largest quarterly fall since the start of the year, and outside the pandemic the last time the count was this low was July to September 2014.
The fall sits with the smallest employers. Vacancies decreased in 14 of the 18 industry sectors, construction most, down 7,000, and in four of the five size bands, with businesses of one to nine employees down 21,000 on the quarter. The ONS says smaller firms keep telling its Vacancy Survey that they are not recruiting because of higher labour costs. There were 2.4 unemployed people for every vacancy in June to August, down from 2.5, the level the ratio had held for a year.
Unemployment was 4.7% in June to August, down 0.1 points on the quarter. Payrolled employees were 30.3 million in September, little changed on the month and down 66,000 on the year. Regular pay grew 3.7%.
For an agency the message is September's, sharper. Clients with fewer roles choose more carefully who fills them, and the agency a client can check in a minute at ior.org/verify is the one that keeps the work. For an in-house team, more applicants for every vacancy means more people told no, and since 1 October a candidate has six months to bring a claim, so the record of why someone was not appointed is the busiest document on the desk.
The Chart of the Week on Wednesday takes the ratio of unemployed people to vacancies from this release, on the Reports page at ior.org/reports.
Source: Office for National Statistics, Labour market overview, UK: October 2026, and Vacancies and jobs in the UK: October 2026, released 20 October 2026. The bulletin.
Written by The BIOR Membership Team. Last reviewed 20 October 2026.