Regular wage growth continues to climb, while employment and unemployment levels increase
Learn about the latest trends in the labour market.
In the quarter to December 2024, wage growth across the economy remained strong, unemployment and employment levels increased, and economic inactivity marginally fell but remains high. This paints the same picture of the labour market as described in recent months, with hiring expectations cooling but the challenges associated with accessing new skills and talent remaining a top threat to growth.
The UK employment rate (for people aged 16 to 64 years) was estimated at 74.9% in the period between October and December 2024, which is slightly up on the quarter and the year. The UK unemployment rate (for people aged 16 and over) was estimated at 4.4% in October and December 2024, which also represents a moderate increase on the quarter and the year.
The UK economic inactivity rate for people aged 16 to 64 years was estimated at 21.5% in the quarter to De
Exclusive member-only content
