Continued recovery in the Labour Market – February 2022

Continued recovery in the Labour Market - February 2022

EMPLOYMENT RATE INCREASES BUT PAY GROWTH FALLS BEHIND INFLATION

The CBI Labour Market report covers the period from October to December 2021, providing a snapshot of labour market activity during a period in which the Omicron variant became the dominant Covid-19 variant in the UK.
The data show a continuing recovery in the labour market, with employment increasing, unemployment decreasing, and vacancies at a new record high. Real time Pay-As-You-Earn data for January 2022 showed that the number of payrolled employees increased once again, up by 108,000 to 29.5 million.

CNA International view

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