Sky's Paul Kelso says that while employers are forking out more for your services, the Bank of England will be stripping away the benefits to help control inflation.
The number of vacancies actually fell but not necessarily, say the ONS, because workers are easier to find, but because uncertainty is causing employers across industries to hold back on recruitment.
With 1.05 million vacancies and 1.3 million people unemployed, the jobs market is less tight than it was, but a ratio of 0.8 workers for every job means employers have to work hard to find candidates, and pay them well when they do.Please use Chrome browser for a more accessible video playerBank of England governor Andrew Bailey has long been concerned about the labour market, both because it limits the capacity for economic growth and as a driver of inflation.
Rising wages may be a factor in persistent core inflation - the measure of price rises excluding volatile food and energy that continued to climb in the most recent figures. That all points to a further bump in rates when the Bank's monetary policy committee meets next week, a 13th consecutive rise as it tries to put the brakes on inflation.
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