The labour market is cooling but pay growth remains strong

New ONS labour market statistics show the biggest employment fall on record outside of a recession


This morning’s labour market statistics show that the labour market is starting to cool, with the biggest employment fall on record outside of a recession. But this is not yet feeding through into wages, which grew at record high rates. And while wage growth impacts both workers and (indirectly) the wider economy, this month’s pay … Continued

Good news in the latest labour market data for the Bank and the Chancellor, but bad news for the general public


This morning’s labour market stats bring good news and bad news. An uptick in workforce participation is good news for everyone, while signs of weakening pay pressure might ease the Bank of England’s inflation concerns. But a wider cooling of demand (seen in falling vacancies, and rising unemployment and redundancies) don’t bode well for workers. … Continued

Is the UK labour market at a crossroads?

This latest ONS labour market statistics, covering November 2022, show a mixed picture


This morning’s labour market statistics, covering November 2022, show a mixed picture. On the one hand, high levels of vacancies and low unemployment mean that the labour market remains tight. But there are early signs that this may not last much longer – vacancies have fallen markedly over the past few months, while redundancies are … Continued

The jobs market is healthy and doesn’t have a temperature, but pay packets are shrinking not surging


Today’s labour market stats release should have marked a turning point in the post-pandemic labour market, as furlough came to an end and the economy adjusted to a period without restrictions. Instead, the data out this morning – which covers October and November – covers two months of relative normality between the end of furlough … Continued

Labour market

Any further questions?

From 'The Full Monty: Facing up to the scale of the COVID-19 jobs crisis'


We often have more questions submitted for our event Q&A sessions than we’re able to answer. Where this is the case, we’ll endeavour to respond to a selection of the most interesting or most representative questions that went unanswered. The questions below were submitted to our panel for the event  The Full Monty: Facing up … Continued

No more posts found