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Posted 7 years ago •
Mixed picture from the labour market
Despite recent optimism, there’s a risk that the jobs market could soften in the months ahead. Our report for December paints a mixed picture with employment remaining largely the same but slowing in pace.
On the plus side, unemployment dropped in the three months to October enabling it to maintain its 11-year low. Wages also went up slightly. However, the number of people claiming unemployment benefits is now at its highest level since February 2015.
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.