Posted 6 years ago •
August's labour market data paints a familiar picture from the last 6 months - strong employment growth and falling unemployment. However these figures also reveal that the size of the UK workforce is shrinking while vacancies and the need for labour remain high.
Across the UK, regions have seen a mixed picture in employment while unemployment levels have remained broadly unchanged.
In the period between August and October 2024, wage growth across the economy remained strong, employment and unemployment levels both increased, while vacancies and inactivity fell.
In the period between July and September 2024, wage growth across the economy remained strong, employment and unemployment levels both increased, while vacancies and inactivity both fell. The data continues to paint a mixed picture of the labour market, with conditions cooling but limited labour pool hindering business’s ability to grow.
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.