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Posted 2 years ago •
The latest ONS data cover the period from September to November 2023 and show a labour market that remains tight overall but continues to soften.
The employment rate, unemployment rate and economic inactivity remained broadly unchanged from the last quarter (75.7%, 4.2% and 20.9% respectively).
In the quarter to July 2026, headline employment and unemployment held broadly as they were, and economic inactivity fell. Meanwhile, youth unemployment climbed to 16.4%, vacancies fell again, and regular pay growth held steady.
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.