July Labour Market Statistics: comment from the Institute for Employment Studies
17 Jul 2025
Commenting on today's figures, Seemanti Ghosh, Principal Economist at the Institute for Employment Studies said:
“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. The labour market continues to weaken with the unemployment rate ticking up to 4.7%, a further 75,000 drop in payrolled employees on quarter and vacancies falling for the 36th consecutive period. This indicates weakening employer confidence following the rise in National Insurance contributions and the National Living Wage, and ongoing economic uncertainty.”
Read our analysis here.