The February UK Market Briefing describes a cooling labour market with increasingly selective recruitment. Official vacancies held at 726,000 for November–January, while Adzuna recorded around 695,000 advertised roles, roughly 16% below a year earlier. Unemployment stood at 5.2%, with approximately 2.6 unemployed people per vacancy.
Different measures, a consistent message
ONS estimates capture employers’ unfilled positions over a rolling period, while online data responds more quickly to advertising decisions. REC/Lightcast reported a 3% monthly rise in active postings to 1.436 million, but activity remained 5.6% lower year on year. The seasonal uplift therefore offered limited evidence of a broad recovery.
Regular earnings growth eased to 4.2%. Advertised salaries remained stronger, averaging around £43,300, partly because fewer lower-paid roles changed the mix of vacancies. IT, engineering and other specialist capabilities continued to attract demand.
What this means for talent leaders
Hiring approvals should reflect delivery, revenue and risk priorities, while workforce planning should use both official and online indicators. Internal mobility and roles designed around capabilities can help employers meet needs within constrained budgets.
The reduction in entry-level and graduate advertising also warrants attention. Maintaining suitable apprenticeship and early-career routes can help avoid future skills gaps. The spring outlook depends on whether vacancy stability persists and specialist demand continues to offset weaker broad-based recruitment.