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Posted 2 years ago •
The latest ONS data cover the period from September to November 2023 and show a labour market that remains tight overall but continues to soften.
The employment rate, unemployment rate and economic inactivity remained broadly unchanged from the last quarter (75.7%, 4.2% and 20.9% respectively).
In the quarter to April 2026, employment and inactivity levels rose, unemployment fell, vacancies continued to decline, and regular wage growth in the private sector slowed to its lowest level in over five years. Youth unemployment also remained concerningly high.
In the quarter to February 2026, the unemployment level and rate fell, employment levels rose slightly but the employment rate decreased, and wage growth continued to slow. There was also a notable uptick in economic inactivity, and vacancies have fallen even further.