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 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 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.
Unemployment and inactivity rise while pay plateaus (May)
The latest ONS data shows a largely unchanged labour market that remains tight overall but continues to slowly soften.