Here’s the latest Labour Market Insights April 2022 overview, according to the (ONS).
As we can see Employment rate has not changed on the quarter whereas unemployment rate has decreased by 0.2 percentage points. Total weekly hours worked has increased to a total of 18.8million and Payrolled employees have increased another 35,000.
Redundancy rates have decreased slightly by 0.1 percentage points. The economic inactivity rate (those that are retired, have a long-term illness or caring for family) has increased by 0.2 percentage points.
Lastly, the number of job vacancies has risen this quarter by 50,200 to a new record of 1,288,000 with the largest increase in the human health and social work sectors.
In conclusion, it is great to see unemployment and redundancy rates continually decline. Hopefully we will see a rise in employment rates next quarter so we can get back to pre-coronavirus (COVID-19) pandemic levels.
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