13 December 2017

News

CBI/Pertemps labour market update December 2017

Employment falls, but so does unemployment, with a record number of openings for job seekers

CBI/Pertemps labour market update December 2017

CBI/Pertemps labour market update December 2017

As 2017 draws to a close, the latest ONS release paints a very mixed picture of the state of the UK labour market.

Employment has fallen for the second consecutive rolling quarter, but follows a sustained period of growth: despite recent falls, employment remains 325,000 up on the year.

Vacancies have reached an all-time high, though new workforce data shows not all industries have seen jobs growth.

Unemployment fell on the quarter, with the rate still at a 42-year low. But a small margin of slack in the labour market remains.

Real wages continue to fall as nominal pay growth remains below inflation and has now been falling for eight months in a row.

Looking across the UK’s regions and nations, only a couple of areas saw employment increase in the quarter, but no areas saw unemployment grow.