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Job vacancies drop in December - Adzuma
Job vacancies in the UK fell by the most in more than three years in December, according to new figures.
The data is another sign that resilient labour market is cooling amid high interest rates.
Figures in the latest Job Market Report published by online portal Adzuna showed advertised vacancies dropped 6.95% in December, the largest drop since June 2020.
Early data suggests January will see a similar sized fall, marking what could be the start of difficult year for jobseekers, Adzuna said.
The drop mirrors falls shown in official data from the Office for National Statistics.
Jobs data showed that between October and December, the number of vacancies in the UK fell by 49,000 on the quarter to 934,000, the ONS said.
Vacancies fell on the quarter for the 18th consecutive period, the longest consecutive run of quarterly declines ever recorded but still above pre-coronavirus (COVID-19) pandemic levels, the ONS added.
Oil majors keeps London in the green
The FTSE 100 is in positive territory, although early highs.
Russ Mould at AJ Bell notes a "strong showing from heavyweight oil stocks has helped make up for weakness elsewhere.”
“Oil prices advanced thanks to a renewed escalation in Middle East tensions, with a further attack on shipping in the Red Sea by Houthi rebels and three US soldiers killed in a drone attack on a US service base on the border of Jordan and Syria," he explained.
Howeverm he pointed out that crude hitting its highest level since November "feels ominous given it adds inflationary pressure at a time when borrowers and the markets are hoping to see interest rates cut."
"Geopolitical factors seem to be propping up oil at a time when the wider dynamics of supply and demand look less than favourable for the energy market," he added.