Posted 5 years ago •
Latest data from the ONS showed that the UK labour market remains in a good place, but there are signs that the uncertainty that has been holding back the economy as a whole has now reached the labour market, with employment falling and pay growth softening.
In the period between July and September 2024, wage growth across the economy remained strong, employment and unemployment levels both increased, while vacancies and inactivity both fell. The data continues to paint a mixed picture of the labour market, with conditions cooling but limited labour pool hindering business’s ability to grow.
In the period between June and August 2024, wage growth across the economy remained strong, the employment rate increased, and high inactivity rate persisted. This paints a mixed picture of the labour market, with conditions cooling but limited labour pool hindering business’s ability to grow.
The labour market continues to send mixed signals with a continued softening of hiring intentions and vacancies, but easing pay pressures and a small decrease in long-term sickness for the fourth month in a row.