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Posted 2 years ago •
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.
In the quarter to August 2026, employment rose, unemployment and inactivity decreased, and regular wage growth held firm. The youth unemployment rate dropped below 16% but remained significantly higher than the headline adult rate. Meanwhile, vacancies fell to their lowest level in five years in the quarter to September.
In the quarter to July 2026, headline employment and unemployment held broadly as they were, and economic inactivity fell. Meanwhile, youth unemployment climbed to 16.4%, vacancies fell again, and regular pay growth held steady.
In the quarter to June 2026, employment rose, headline unemployment fell and economic inactivity was broadly unchanged. Meanwhile, youth unemployment remained above 16%, vacancies fell again, and regular pay growth showed signs of resilience.