CBI Labour Market Update – November 2021

LABOUR MARKET SEES STRONG RECOVERY

The latest data covers the period from July to September 2021, providing a snapshot of labour market activity during the reopening of the economy.

The data show continued signs of recovery in the labour market, with employment increasing, unemployment decreasing, and vacancies at a new record high. Young people who were particularly affected by the pandemic saw a continued increase in the employment rate and decrease in the unemployment and inactivity rates. Real time Pay-AsYou-Earn data for October 2021 also showed that the number of payrolled employees increased once again, up by 160,000 to 29.3 million. The uptick in employment was driven by a record high net flow from unemployment to employment.

CNA International view

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