The ONS’s latest labour market data saw employment rising, with unemployment remaining low.
The employment rate returns to a record high, with employment growth similar to the relatively strong rates seen over most of 2017.
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Vacancies continue to decline while inactivity marginally falls
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.
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Employment rises and vacancies fall, as the labour market continues to soften
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.
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The labour market softens
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.