Labour market overview, UK: January 2025

21.01.25

The latest Labour market overview from the Office for National Statistics was released today.   Main takeaways are:

  1. Number of vacancies fell by 24,000 to 812,000 in the three months to December 2024 from the previous quarter.
  2. Rate of unemployment increased to 4.4% from 4.3%.
  3. There was an estimated drop of 47,000 payrolled employees in December 2024 alone to 30.3 million.
  4. Pay growth (excluding bonuses) rose to 5.6% from 5.2%.

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