Pay growth softens while vacancies continue to fall
The latest ONS data cover the period from August to September 2023 and show a labour market that continues to soften.
The latest ONS data cover the period from June to August 2022 and show a labour market that is continuing to tighten, with the employment rate decreasing, unemployment decreasing, economic inactivity rising sharply and vacancies falling for the third quarter in a row.
Real time Pay-As-You-Earn data for September 2022 showed that the number of payrolled employees increased, up by 69,000 to a record 29.7 million.
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Wages outpace inflation while unemployment increases and vacancies continue to fall
The latest ONS data cover the period from May to July 2023 and show a labour market that remains tight but with increasing signs of softening. The employment rate decreased while both the unemployment and inactivity rate increased. Vacancies continue to fall although remain above pre-pandemic levels. Real time Pay-As-You-Earn data for August 2023 remained broadly unchanged from the previous quarter – with 30.1 million payrolled employees in the labour market.
Pay rises faster than inflation for the first time in almost two years, while economic inactivity and vacancies continue to fall
The latest ONS data cover the period from April to June 2023 and show a labour market that continues to softening, with the employment rate decreasing, unemployment increasing, and economic inactivity and vacancies both falling.