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Posted 1 year ago •
In the period between June and August 2024, wage growth across the economy remained strong, the employment rate increased, and high inactivity rate persisted. This paints a mixed picture of the labour market, with conditions cooling but limited labour pool hindering business’s ability to grow.
In the quarter to June 2026, employment rose, headline unemployment fell and economic inactivity was broadly unchanged. Meanwhile, youth unemployment remained above 16%, vacancies fell again, and regular pay growth showed signs of resilience.
In the quarter to May 2026, employment levels rose, unemployment and economic inactivity fell, vacancy levels showed signs of stabilising, and nominal regular wage growth remained at its lowest level in over five years. Concerningly high youth unemployment levels have also persisted.
In the quarter to April 2026, employment and inactivity levels rose, unemployment fell, vacancies continued to decline, and regular wage growth in the private sector slowed to its lowest level in over five years. Youth unemployment also remained concerningly high.