Labour market analysis, 12 September 2023

Responding to the labour market stats release by ONS on 12 September 2023, Stephen Evans, chief executive of Learning and Work Institute, said:


18 09 2023


Tagged by:


The labour market continues to soften with significant falls in the employment rate and rises in unemployment, plus vacancies below one million for the first time since pandemic restrictions eased. The UK is the only G7 country to have lower employment than pre-pandemic; and the number of people out of work due to long-term sickness is at record highs. We need to widen employment support and invest in social infrastructure like childcare, skills and health. Earnings grew faster than inflation for the second month in a row, though they remain £11,000 lower in real terms than if pre-financial crisis trends had continued. The cost of living crisis is far from over.