Labour Market Profile - June 2022 - EU Skills

Labour Market Profile – June 2022

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

Labour Market Profile Data Statistics Graphic
Labour Market Profile – June 2022

 The most recent data shows that the labour market continues to tighten, with all the main indicators showing improvements over the past quarter and compared to the previous year.

  • The number of payrolled employees increased by 0.3% over the past month to 29.6million (up 3.9% over the year)
  • The employment rate increased by 0.2% over the quarter to 75.6% (up 1.0% over the year)
  • The unemployment rate decreased by 0.2% over the quarter to 3.8% (down 1.1% over the year)
  • The economic inactivity rate decreased by 0.1% over the quarter to 21.3% (down 0.1% over the year)
  • Redundancies fell by 13,000 over the quarter to 56,000 (52,000 fewer than a year ago)
  • Vacancies increased by 1.6% over the quarter to reach another record high of 1,300,000 (up 69.9% over the year)
    • In the Electricity & Gas industries, the number of vacancies increased by 10% during the quarter (down 4% over the year) to around 6,000
    • In the Water supply, sewerage, waste & remediation activities industries, the number of vacancies increased by 2% during the quarter (up 53% over the year) to around 9,000
  • Total hours worked increased by 12.2 million hours over the quarter to 1.04 billion hours (up 75.3 million hours over the year)
  • Earnings growth in average total pay (including bonuses) was up 6.8% 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 2.2%

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

The next update will be on 19 July 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.