Employment rises and vacancies fall, as the Labour Market continues to soften
In the period between June and August 2024, wage growth across the economy remained strong, the employment rate increased, and high inactivity rate persisted. This paints a mixed picture of the labour market, with conditions cooling but limited labour pool hindering business’s ability to grow.
The UK employment rate (for people aged 16 to 64 years) was estimated at 75.0% in June to August 2024, above estimates of a year ago and an increase on the last quarter. The UK unemployment rate (for people aged 16 years and over) was estimated at 4.0% in June to August 2024, slightly down on figures from last quarter and this time last year.
The UK economic inactivity rate for people aged 16 to 64 years was estimated at 21.8% in June to August 2024, below estimates of a year ago, and fell in the latest quarter.
Exclusive member-only content
