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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 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.