Labour Market Profile - May 2022 - Energy & Utility Skills

Labour Market Profile – May 2022

This latest labour market update summarises the state of the UK labour market in the three months to April 2022. It is based on data published by the Office for National Statistics.

The most recent data show the labour market continuing to recover from the impact of coronavirus pandemic:

  • The number of payrolled employees increased by 0.4% over the past month to 29.5 million (up 4.2% over the year)
  • The employment rate increased by 0.1% over the quarter to 75.7% (up 0.9% over the year)
  • The unemployment rate decreased by 0.3% over the quarter to 3.7% (down 1.2% over the year)
  • The economic inactivity rate increased by 0.1% over the quarter to 21.4% (unchanged over the year)
  • Redundancies fell by 2,000 over the quarter to 70,000 (81,000 fewer than a year ago)
  • Vacancies increased by 2.7% over the quarter to reach another record high of 1,295,000 (up 94.9% over the year)
    • In the Electricity & Gas industries, the number of vacancies increased by 6% during the quarter (down 2% over the year) to around 5,000
    • In the Water supply, sewerage, waste & remediation activities industries, the number of vacancies increased by 8% during the quarter (up 91% over the year) to around 8,000
  • Total hours worked increased by 14.8 million hours over the quarter to 1.04 billion hours (up 91.1 million hours over the year) 
  • Earnings growth in average total pay (including bonuses) was up 7.0% and regular pay (excluding bonuses) was up 4.2%
    • In real terms (adjusted for inflation), growth in total pay was 0.4% on the quarter, although regular pay fell by 1.0%

The Office for National Statistics’ full update on the state of the labour market in May 2022 can be found here.

The next update will be on 14 June 2022.

For further information about the labour market, migration or regional labour market indications, please email Rob Murphy, our in-house strategic workforce planning consultant.