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Market watch · 40

UK vacancies are the lowest outside the pandemic since 2014

Businesses with fewer than ten employees have a third fewer vacancies than a year ago.

Fewer openings, and yet more people in work: the two can move apart for a while, and in Britain this autumn they have. Here is where the vacancies went, which employers have fewer and which do not, what a vacancy is and is not, and what it changes if you are hiring or looking for work in the UK.

691,000UK vacancies, July to September 2026, the fewest outside the pandemic since 2014
-32.8%change in a year in vacancies at businesses with 1 to 9 employees
4.7%unemployment rate, June to August 2026

July to September vacancies, back below 2015 and close to 2014

2014686,000
2015742,000
2016756,000
2017806,000
2018853,000
2019827,000
2020499,000
20211,132,000
20221,235,000
2023984,000
2024840,000
2025728,000
2026691,000
UK vacancies, July to September of each year from 2014 to 2026, seasonally adjusted. 2020 is the pandemic year; 2026 is an early estimate. Office for National Statistics, Vacancy Survey, read 20 October 2026.

The fewest vacancies outside the pandemic since 2014

UK vacancies fell by 21,000 (2.9%) to 691,000 in July to September 2026, compared with April to June. On the year they fell by 37,000 (5.1%). The Office for National Statistics published the estimates on 20 October 2026.

Outside the coronavirus pandemic, the last time there were 691,000 vacancies or fewer was July to September 2014, with 686,000. In July to September 2020 there were 499,000, and in July to September 2022, 1,235,000.

The quarter’s fall is the largest since January to March 2026, which was also a fall of 21,000.

Provenance: Source
UK vacancies, July to September of each year, seasonally adjusted. 2020 and 2021 are the pandemic years; 2026 is an early estimate. Office for National Statistics, Vacancy Survey (series AP2Y).
July to SeptemberVacancies
2014686,000
2015742,000
2016756,000
2017806,000
2018853,000
2019827,000
2020499,000
20211,132,000
20221,235,000
2023984,000
2024840,000
2025728,000
2026691,000

Fewer at small firms, more at large ones

At businesses with 1 to 9 employees, vacancies fell by 21,000 (21.1%) on the quarter, to 77,000. Over the year they fell by 38,000 (32.8%), about a third. Outside the pandemic, that is their lowest level since June to August 2013.

The largest employers went the other way: over the year, vacancies rose by 2.6% at businesses with 250 to 2,499 employees and by 3.9% at those with 2,500 or more. They fell by 7.1% at businesses with 10 to 49 employees and by 5.0% at those with 50 to 249.

The ONS reports that feedback to its Vacancy Survey continues to suggest smaller firms may not be recruiting because of increases in labour costs. That is what employers tell the survey, not something the figures measure.

Provenance: Source
Change in UK vacancies by employment size band, July to September 2026, on the quarter (from April to June 2026) and on the year (from July to September 2025), per cent. Office for National Statistics, Vacancy Survey.
EmployeesOn the quarterOn the year
1 to 9-21.1%-32.8%
10 to 49-0.7%-7.1%
50 to 249-0.6%-5.0%
250 to 2,499+1.2%+2.6%
2,500 or more-0.3%+3.9%
All vacancies-2.9%-5.1%

What a vacancy is

A vacancy is a position for which an employer is actively seeking recruits from outside the business. The figure counts positions, not job adverts, and it says nothing about applications or hires.

The estimates come from the ONS Vacancy Survey of employers. It covers the economy except agriculture, forestry and fishing, and households as employers, and its latest quarter is an early estimate that will be revised.

Each period is three months, seasonally adjusted, and compared with the three months before it and the same months a year earlier. The ONS computes changes on unrounded figures.

Provenance: SourceWhat this counts
  1. A VACANCY: a position for which an employer is actively seeking recruits from outside the business or organisation. It is counted once, however many times it is advertised, and it says nothing about how many people apply.
  2. THE SURVEY: the ONS Vacancy Survey asks employers how many vacancies they have. It covers the whole economy except agriculture, forestry and fishing, and households as employers. July to September 2026 is an early estimate.
  3. THE PERIODS: vacancies are for July to September 2026; the employment and unemployment rates come from the Labour Force Survey for June to August 2026.

So 691,000 does not say that jobs were cut: it says that fewer positions were open to recruits from outside, at a time when more people were in work than a year earlier.

One survey of employers, one definition and two periods, and a reading that forgets any of them says what the source does not.

Fewer openings, more people in work

Over June to August 2026, the employment rate for people aged 16 to 64 rose by 0.2 percentage points on the quarter and on the year, to 75.3%. The unemployment rate for people aged 16 and over fell by 0.1 points on both, to 4.7%, and the economic inactivity rate was 20.9%.

HMRC payroll records count differently and point the other way: 92,000 fewer payrolled employees in June to August 2026 than a year earlier, a fall of 0.3%. The survey counts people, employees and self-employed; the payroll counts employees paid through PAYE.

There were 2.4 unemployed people per vacancy in June to August 2026, down from 2.5 in March to May.

What these figures do not say

They do not say why. The labour-cost explanation is what smaller firms tell the survey; no tax, wage rule, interest rate or technology is measured here.

They do not say that jobs were lost, how many people apply for each vacancy, or which occupations and regions are affected.

The latest quarter is an early estimate that will be revised, and none of this is a forecast.

What this means for you

If you are looking for work in the UK

There were 691,000 vacancies in July to September 2026, the fewest outside the pandemic since 2014, and businesses with 1 to 9 employees had 32.8% fewer than a year earlier. Larger employers moved the other way: vacancies rose by 2.6% at businesses with 250 to 2,499 employees and by 3.9% at those with 2,500 or more. If you mostly apply to small firms, add larger ones to your search.

If you are hiring in the UK

There are fewer vacancies than at any time outside the pandemic since 2014, so fewer openings compete with yours for the same candidates: there were 2.4 unemployed people per vacancy in June to August 2026. The fall is steepest among businesses with fewer than ten employees. If yours is one and you are hiring, say so plainly in the advert, with the pay and the hours.

How this was counted

Method

  1. Two releases. Office for National Statistics, Vacancies and jobs in the UK: October 2026, and Labour market overview, UK: October 2026, both released on 20 October 2026, with the series AP2Y, LF24, MGSX and LF2S, read on 20 October 2026 at 20:59 (+01:00).
  2. THE MEASURES. Vacancies: positions for which employers are actively seeking recruits from outside their business, from the Vacancy Survey, seasonally adjusted, in thousands; the size bands count employees. The rates come from the Labour Force Survey, and payrolled employees from HMRC Real Time Information.
  3. THE PERIODS. Vacancies are for July to September 2026, an early estimate; the Labour Force Survey rates and payrolled employees are for June to August 2026. Changes are those the ONS publishes, computed on unrounded figures, so they can differ from the difference of the rounded ones.
  4. THE COMPARISON. “Outside the pandemic” follows the ONS: the last period with 691,000 vacancies or fewer, leaving aside the pandemic, is July to September 2014. The July to September figures of every year from 2007 are in the ONS series, and only 2020 and the years up to 2014 are lower.
  5. THE DESK’S ARITHMETIC. “A third”: 32.8 out of 100. “Fewer than ten employees”: the 1 to 9 band. The size bands are published as percentage changes; the levels quoted for the smallest band are the ONS’s own.
What the data establishes, and what it does not

What the data establishes

  • UK vacancies fell by 21,000 to 691,000 in July to September 2026, and by 37,000 (5.1%) on the year.
  • Outside the pandemic, the last time there were as few was July to September 2014, with 686,000.
  • At businesses with 1 to 9 employees vacancies fell by 32.8% in a year; at the two largest size bands they rose.
  • Over June to August 2026 the employment rate rose to 75.3% and the unemployment rate fell to 4.7%.

What it does not

  • Why: the labour-cost explanation is what small firms tell the survey, and no cause is measured.
  • That jobs were cut: a vacancy is an open position, not a job held.
  • How many people apply for each vacancy.
  • Anything about any occupation or region.
  • Whether vacancies will keep falling: nothing here is a forecast.
Primary sources

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