LABOUR MARKET OVERVIEW – AUGUST 2022

REAL PAY GROWTH CONTINUES TO FALL AMID WORSENING COST OF LIVING CRISIS

The latest data covers the period from April to June 2022 and shows a labour market that has signs of plateauing, with the employment rate decreasing, unemployment increasing, economic inactivity remaining the same overall and vacancies falling for the first time in two years. Real time Pay-As-You-Earn data for July 2022 showed that the number of payrolled employees increased, up by 73,000 to a record 29.7 million.

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