UK job market continues to weaken

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The UK jobs market has weakened further as the number of employees on payroll continues to fall and wage growth slows, according to official statistics.

The annual rate of pay growth in the three months between March and May was 5%, the latest figures from the Office for National Statistics (ONS) show, down from the previous figure of 5.2%.

Meanwhile, the number of job vacancies has fallen again to 727,000, marking three continuous years of falling job openings.

The ONS said survey data suggested that some firms may not be recruiting new workers or replacing ones who have left.