Unemployment Falls Marginally
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.
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.
Latest Market Insights
The labour market continues to cool
This month's labour market figures continue to show signs of gradual cooling, with the number of vacancies still falling and unemployment rising.
The labour market continues to show signs of cooling
This month’s figures continue to show signs that the labour market may be cooling. The number of vacancies continues to fall and is unemployment rising.