The Office for National Statistics (ONS) said regular, average, wage growth in the private sector also fell below 3% for the first time since 2020, at 2.9% in the three months to May, down from an upwardly revised 3% in the previous three months. 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. This was driven by smaller businesses, which saw vacancies fall 8,000, though this was partially offset by an increase among medium-sized firms, the ONS said. 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.