The latest figures showed there were 7,000 fewer vacancies in the quarter to June at 712,000, which follows a 19,000 drop in the previous three months. Despite the drop in private sector earnings growth, overall regular wage growth remained unchanged at 3.4% in the quarter to May thanks to a 5.5% increase across the public sector, which the ONS said was affected by the timing of recent NHS pay awards. Matt Swannell, chief economic adviser to the Item Club, said: “There are some signs that the deterioration in the labour market has bottomed out. The ONS figures will be watched closely by policymakers at the Bank of England ahead of its interest rate decision on July 30. He said: “A stale labour market that is still gradually loosening gives the Monetary Policy Committee space to keep interest rates on hold next week.