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Posted 4 years ago •
The latest ONS data covers the period between May and July 2020, providing the first snapshot of labour market activity in the aftermath of a more substantial easing of lockdown at the start of July and the introduction of greater flexibility within the Job Retention Scheme.
The impact of COVID-19 on the labour market is becoming more pronounced and is starting to feed through to headline labour market indicators.
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.
The labour market shows a gradual slowdown, with vacancies still above pre-pandemic levels, while pay rates remain high due to last year's inflation.
This month's labour market figures continue to show signs of gradual cooling, with the number of vacancies still falling and unemployment rising.