CBI Labour market overview – May 2022

LABOUR MARKET CONTINUES TO TIGHTEN BUT PAY GROWTH FALLS FURTHER BEHIND INFLATION

The latest Labour Market update shows a labour market that continues to tighten, with employment figures largely unchanged, unemployment decreasing, and vacancies at a new record high. Real time Pay-As- You-Earn data for April 2022 showed that the number of payrolled employees increased, up by 121,000 to a record 29.5 million. However, due to an increase in the rate of those who are economically inactive, the total number of workers in the labour market has decreased overall.

CNA International view

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