JOB VACANCIES FALL AS JOB MARKET BEGINS TO STALL 

The number of job vacancies across the UK has fallen below one million for the first time in over two years, according to new data from jobs site Adzuna. Commenting on the data, they said the 2.7 per cent fall in the number of advertised jobs between October and November could indicate the job market is beginning to stall (The Guardian).  

The data showed average salaries are still continuing to rise, however, with an average 0.7 per cent increase between October and November and a 1.8 per cent increase compared to the same period last year (City AM).

NUMBER OF NEW HOUSING DEVELOPMENTS AT RECORD LOW 

The number of planning permissions granted for new homes has fallen to a record low in the 12 months to the end of September, according to new data from the Home Builders Federation (The Times).  

The data shows just 2,447 projects were approved in the third quarter of this year, down three per cent on the previous three months and down 19 per cent compared to the same period in 2022 (Daily Mail).  

NEWS IN BRIEF

The UK government has announced that it will introduce a new import carbon pricing mechanism by 2027, meaning that goods imported from countries with lower or zero carbon pricing will have to pay additional tax (Reuters). 

The pay gap at the UK’s largest companies rose to 57 to 1 in 2022, despite upward pressure on average wages across the economy, according to data from the High Pay Centre (The Times).  

Retailers are likely to face weak demand and higher cost pressures in the first few months of 2024, according to forecasts published today by the Retail Think Tank (The Guardian). 

Data on Wednesday from the Office for National Statistics is likely to show inflation has fallen again in October, fuelling expectations that the Bank of England will loosen monetary policy next year, according to The Times.