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Labour Market Overview Jun'22: "Job vacancies at a record high and pay on the rise... Its a great time to be looking for work!"

Posted on 21 June 2022

Employment Rate

The UK employment rate increased by 2.2 percentage points. A decrease in part time workers has offset the increase in full time employees:

Unemployment Rate

The UK unemployment rate fell by 2.2 percentage points, mirroring the employment rate. The majority of these have been unemployed for up to 6 months:

Economic Inactivity

Returning students drove a decrease in economic inactivity:

Job Vacancies

Job vacancies remain at record levels (currently 1,300,000); however, the rate of growth continues to decelerate:

Earnings

When adjusted for inflation regular pay (excluding bonus') fell by 2.2% on last year. High bonus payments kept total pay (including bonus') at a positive growth rate. The increasing cost of living will continue to challenge employers, who have so far combated the problem by issuing bonus payments.

With job vacancies at a record high and starting pay on the rise, it is a great time to be looking for work. Search our live job vacancies or visit out looking for work page to see how we can help find you your next role.

Last months: Labour Market Overview May'22: "For the | Smith and Reed Recruitment

Full overview: Labour market overview, UK - Office for National Statistics (ons.gov.uk)

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