The labour market continues to show signs of cooling

CBI and Pertemps Labour Market Update Overlay

This month’s figures continue to show signs that the labour market may be cooling. The number of vacancies continues to fall and unemployment is rising. It is worth noting however, that earnings growth remains relatively strong.

The UK employment rate (for people aged 16 to 64 years) was estimated at 74.3% in February to April 2024, below estimates of a year ago, and decreased in the latest quarter.

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