🌟 Labour Market Overview: June 2024 🌟
Hold on to your hats, folks! The latest labour market update from the ONS is out, and it’s a rollercoaster of insights. 🎢
🔍 Trends at a Glance:
1. Cooling Labour Market: The job market’s got a chill – vacancies are down and unemployment is up. But hey, earnings growth is still flexing its muscles. 💪
2. Mixed Employment Signals: Depending on which employment measure you look at, we’re either up or down. Labour Force Survey says one thing, HMRC data says another. It’s like watching two different weather forecasts. 🌦️
3. Payrolled Employees: Slight dip of 36k from March to April 2024, but still a robust increase of 201k year-over-year. And May’s early estimate? Practically flat, but up 167k on the year. 📊
4. Employment Rate: Down to 74.3% for Feb-Apr 2024. 📉
5. Workforce Jobs: Up by 431k year-over-year to 37.2 million in March 2024. 🏢
6. Unemployment Rate: Climbed to 4.4% for Feb-Apr 2024. 📈
7. Claimant Count: Up to 1.629 million in May 2024. More claimants, but we’re still in the fight! 🥊
8. Economic Inactivity Rate: Up to 22.3%. More people chilling on the sidelines. 🛋️
9. Vacancies: Down for the 23rd consecutive period, but still above pre-pandemic levels. Seems like the hiring party’s slowing down. 🎉
10. Earnings Growth: Regular earnings up 6.0%, total earnings up 5.9%. After adjusting for inflation, we’re looking at real growth of 2.3% and 2.2% respectively. Not too shabby! 💷
11. Labour Disputes: 17k working days lost in April 2024. Let’s keep the peace, people! ✌️
For the full details, dive into the ONS Labour Market Overview, June 2024 (https://lnkd.in/e7yiSeZq). 📖
In short, the labour market is like a buffet – some hot, some cold, and a bit of everything in between. Stay tuned for more updates, and let’s keep navigating these economic waves! 🌊
