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Posted 3 years ago •
The latest ONS data covers the period between August and October 2020, providing a snapshot of labour market activity during a period of more relaxed restrictions, ahead of England entering a second national lockdown, and greater flexibility within the Job Retention Scheme, albeit on less generous terms for business.
The latest data shows a significant decrease in employment, another rise in unemployment and a sharp increase in redundancies.
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.