Wage growth remains strong while economic inactivity and vacancies continue to fall

The latest ONS data cover the period from March to May 2023 and show a labour market that remains tight but continues to cool down, with employment and unemployment rates both increasing and economic inactivity and vacancies both falling.

Real time Pay-As-You-Earn data for June 2023 showed that the number of payrolled employees decreased by 9,000 to 30 million. 

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