This latest labour market update summarises the state of the UK labour market in the three months to August 2021. It is based on data published by the Office for National Statistics.
The headlines include:
- The most recent data show the labour market continuing to recover
- The number of employees on payroll showed another monthly increase, up 241,000 to 29.1 million in August 2021 – returning to pre-pandemic levels
- All regions except London, Scotland and South East are now above pre-pandemic levels
- The employment rate increased by 0.5% on the quarter to 75.2%
- The unemployment rate decreased by 0.3% to 4.6%
- The economic inactivity rate decreased by 0.3% to 21.1%
- There was a strong increase in the employment rate and decrease in the unemployment and inactivity rates for young people (those aged 16 to 24 years)
- The number of job vacancies reached 1 million (1,034,000) for the first time since records began (249,000 above the pre-pandemic level)
- Within Electricity & Gas, the number of vacancies increased by 107% on the previous year and by 2% on the previous quarter
- Within Water supply, sewerage, waste & remediation activities, the number of vacancies increased by 167% on the previous year and by 10% on the previous quarter
- Growth in average total pay (including bonuses) was 8.3% and regular pay (excluding bonuses) was 6.8%
The Office for National Statistics’ full update on the state of the labour market in August 2021 can be found here.
The next update will be on 12th October 2021
For further information about the labour market, migration or regional labour market indications, please email Rob Murphy, our in-house strategic workforce planning consultant.