The UK jobs market is cooling, with a significant drop in vacancies and a slight fall in the number of people on payrolls, according to recent official figures. This slowdown follows changes in business taxes and the minimum wage, though the impact is described as a "very gradual cooling" rather than a sharp downturn.

• Job openings fell by 5.8% to 718,000 between May and July.
• Liz McKeown, director of economic statistics at the ONS, stated that payroll numbers have fallen in 10 of the last 12 months.
• The National Living Wage increased from £11.44 to £12.21 in April, coinciding with a rise in National Insurance Contribution for employers from 13.5% to 15%.