Labour market analysis, June 2024

Responding to the labour market stats release by ONS on 11 June 2024.


11 06 2024


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Stephen Evans, chief executive of Learning and Work Institute, said:
The last labour market stats before the election show a further drop in employment and rise in economic inactivity. 3.2 million people are out of work but want a job: the next government needs to widen employment support to all who want to work, given today only 1 in 10 out-of-work disabled people get help to find work each year. Average earnings are rising in real terms as inflation falls, but are a staggering £12,000 per year below what they'd be on pre-financial crisis trends. This shows the scale of catch-up needed in the years ahead.
Dr Helen Gray, chief economist of Learning and Work Institute, said:
Over one million 16- to 24-year-olds are not in employment or full-time education, of which 195,000 have been out of work for six months or more. As rates of unemployment and economic inactivity continue to rise, there is an urgent need to increase the support available to young people as they make the transition into the workplace. We call upon the next government to offer young people a guaranteed job, training place or apprenticeship to allow everyone to fulfil their potential in the labour market.

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