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. 

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Latest Market Insights

CBI June 2024 Overlay

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.

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Cbi Labour Update

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.

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Cbi Labour Update

Unemployment and inactivity rise while pay plateaus

The latest ONS data covers the period from January to March 2024 and shows a largely unchanged labour market that remains tight overall but continues to slowly soften.

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