News

The labour market continues to weaken. The unemployment rate has increased to the highest rate in four years and unemployment rates for men match peak rates during the pandemic.

Today’s Budget included a welcome focus on youth employment with investment in the Youth Guarantee, including the Jobs Guarantee scheme for 18-21-year-olds, and more support for SMEs to take on apprentices under the age of 25.

The labour market continues to cool. The last two months have seen the most significant falls in payrolled employment in the last year, which has fallen for 11 of the last 12 months.

There are early signs that the labour market is starting to stabilise, as the pace of decline in jobs is slowing.

The labour market continues to cool, with falling payroll numbers, vacancies and weakening pay growth, as employer confidence remains low.

The labour market continues to cool as employers respond to cost pressures and global uncertainty.

The UK labour market has seen a net loss of 178,000 jobs over the past year, in stark contrast to the previous year when there was a gain of 260,000 jobs.

Naomi Clayton, Chief Executive at the Institute for Employment Studies comments on today's Spending Review announcements

IES analysis of this month's Labour Market Statistics.

IES analysis of this month's Labour Market Statistics.