Wage growth remains strong and vacancies edge closer to pre-pandemic levels

Posted 1 year ago •

Pages of documents showing changes in the labour market

Labour Market update report

In the period between August and October 2024, wage growth across the economy remained strong, employment and unemployment levels both increased, while vacancies and inactivity fell.

Related Articles
  • labour market update report
    Unemployment rate returns to 5% and vacancies fall to post-pandemic low

    In the quarter to March 2026, unemployment levels fell, but the unemployment rate (5.0%) is up on last month’s figure (4.9%). Employment and economic inactivity both rose, and vacancies declined even further.

  • labour market update report
    Unemployment rate falls to 4.9%, but signs of hiring caution remain

    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.

  • labour market update report
    UK Labour Market Cooling Continues And Business Hiring Caution Persists

    In the quarter to January 2026, employment and unemployment levels both rose, the inactivity rate fell, vacancies were broadly unchanged, and regular wage growth slowed to its lowest level in five years.