Unemployment Falls Marginally | Pertemps CBI Labour Market Update July 2024

Unemployment Falls Marginally

Posted 2 years ago •

Pages of documents showing changes in the labour market

Labour Market update report

The labour market shows a gradual slowdown, with vacancies still above pre-pandemic levels, while pay rates remain high due to last year's inflation. The new Government's plans for Apprenticeship Levy reform and Skills England are promising but need to prioritise local needs over top-down solutions.

To effectively support all workers, especially those looking for flexible work arrangements and new opportunities, it’s essential to make sure that employment protection reforms do not create barriers for jobseekers and promote partnerships with businesses.

Related Articles
  • Labour market update report
    Young people continue to bear the brunt as hiring difficulties continue

    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.

  • Labour market update report
    ‘Low hire, low fire’ labour market dynamics persist, as vacancies continue to fall

    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.

  • labour market update
    UK labour market shows some signs of resilience, but hiring caution continues

    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.