Our employment law experts across the UK comment on the latest labour market figures for the UK, Scotland and Northern Ireland.
UK wide data
Joanne Frew, Interim Global Head of Employment & Pensions at DWF, comments on the UK wide ONS labour market figures published today. She said: "The latest ONS labour market figures remain stable as the UK continues to battle with the cost of living crisis.
The highlights of the period between June and August 2022 show an employment rate of 75.5%, 0.3% lower than the previous quarter. The UK unemployment rate was estimated at 3.5%, 0.3% lower than the previous quarter and the lowest rate since 1974. It is worth noting that the previous quarter (March to May 2022) had a notably higher employment rate than other recent periods meaning that the employment rate drop appears more significant.
The number of job vacancies in July to September 2022 was 1,246,000 a reduction of 46,000 from April to June 2022. Vacancies fell by 3.6% in July to September and is the third consecutive fall.
"Although the so called "Great Resignation" remains an issue for many employers, these figures indicate that the labour market is starting to slow down after a particularly volatile period. "It will be interesting to see what impact the change of government may have on the labour market. With all EU-derived employment law under review following publication of the Retained EU Law (Revocation and Reform) Bill and suggestions that the Government may be...
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