Labour market analysis, 14 November 2023

Responding to the labour market stats release by ONS on 14 November 2023, Stephen Evans, chief executive of Learning and Work Institute, said:


14 11 2023


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The ONS has again released a limited set of data due to low survey response rates, making it difficult to assess the current picture. But most signals point towards a flattening labour market, with vacancies continuing to fall and most measures of employment little changed. Real earnings are growing again as inflation falls, but fastest in sectors like finance and still £12,000 lower than if pre-financial crisis trends had continued. The big picture remains of weak growth in the economy and real earnings, with employment historically high but wide gaps between groups and areas. That’s the backdrop for the Chancellor’s Autumn Statement.

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