The number of job vacancies in the UK has fallen to its lowest level since the pandemic, according to research from job site Adzuna. Advertised roles dropped by 3% in January to 695,000, the first time vacancies have dipped below 700,000 since January 2021.
The decline marks a continuation of a downward trend seen in late 2025, with vacancies down 16% compared to last January and nearly 20% lower than six months ago. Graduate jobs also fell below 10,000 for the first time since Adzuna began tracking this in 2016.
The research follows official figures showing UK unemployment rose to a five-year high of 5.2%. Concerns are growing that young people are bearing the brunt of the slowdown, with unemployment among 18- to 24-year-olds reaching 14% in the final three months of 2025, the highest rate in five years excluding the pandemic.
Employers have reined in hiring due to increases in national insurance contributions and the minimum wage announced by Chancellor Rachel Reeves in her last two budgets. Some companies are also prioritising investment in automation and artificial intelligence over recruitment. The sharpest monthly drop in vacancies was in London, with advertised roles falling by almost 6%.
Competition for jobs has intensified, with 2.4 jobseekers per vacancy, up from 2.27 in December. The most searched-for roles include warehouse staff, healthcare support workers, lorry drivers, labourers and kitchen assistants. However, average advertised salaries rose to £43,289, an annual increase of nearly 6%, outpacing inflation which fell to 3%.
