Job vacancies plunge to low not seen since Covid pandemic

The number of job vacancies across the UK has plummeted to a five-year low, now approaching levels not witnessed since the height of the Covid pandemic, according to new research.

According to jobs site Adzuna, vacancies fell by 3 per cent in January, reaching 694,000.

This marks a continuation of a downward trend which was observed throughout late 2025 and represents the first time advertised roles have dropped below 700,000 since January 2021.

The report highlighted a significant contraction, with vacancies down 16 per cent compared to January 2025, and a 19 per cent decrease over the past six months.

Adzuna said that the figures underscore the sharp decline in job opportunities since mid-2025, exacerbating challenging conditions for jobseekers who are already grappling with a high cost of living, increased national insurance contributions, and the growing integration of artificial intelligence in the workplace.

Competition for roles has intensified, with more than two jobseekers now vying for each available position.

The most frequently searched-for jobs included healthcare support workers, warehouse staff, lorry drivers, labourers, and kitchen assistants.

Andrew Hunter of Adzuna said: "As economists point to ONS (Office for National Statistics) data that suggests hiring rates are levelling off, the live picture from advertised jobs tells a different story.

“Our January figures show hiring is approaching pandemic-era levels, and with graduate roles falling to a record low, this suggests the market is far from being on stable footing – yet."

He added: "There are signs of resilience as 2026 gets under way. Wages continue to rise steadily, outpacing inflation for another month and several key sectors are seeing strong growth as employers compete for skilled workers.

“It’s encouraging to see areas such as teaching and domestic and cleaning continue to add jobs, showing that demand hasn’t disappeared entirely across the economy."