Job vacancies fall to lowest level in five years

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The number of UK job vacancies has fallen to their lowest level in five years, with hospitality and retail experiencing some of the biggest drops.

The unemployment rate rose slightly to 5% in the three months to March, from 4.9% in the three months to February, according to the Office for National Statistics (ONS).

Average regular earnings growth fell to 3.4% in the first three months of the year, and was 0.3% higher after inflation was taken into account.

ONS director of economic statistics Liz McKeown said the latest figures "suggest the labour market remains soft, with vacancies at their lowest level in five years and unemployment higher than a year ago".

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