Job vacancies on Indeed have fallen faster in the UK than in other similar countries over the past year, reports Reuters. Indeed’s data showed that as of 29 November, there were 23% fewer jobs advertised on its platform in the UK compared with a year earlier, a sharper decline than the 14% drop shown in official data, which covers the August to October period. Job vacancies were 12% lower than before the COVID-19 pandemic.

Indeed economist Jack Kennedy told Reuters, “The balance of power has certainly swung towards employers as the labour market has softened, as evidenced by the fall in job postings, decline in signing bonuses, easing wage growth and rising zero hours contract postings.”

Meanwhile, France saw a 22% annual decline, while other comparable countries, including the US, Germany, Ireland, Canada and Australia, had fallen in a range of 5% to 15%.

Indeed’s UK data showed a steady fall in vacancies through 2024, but businesses’ concerns about hiring have become sharper since the October budget announcement. “Employers will likely continue with caution when it comes to hiring in 2025,” Indeed stated.