Labour market overview, UK: January 2025
The latest Labour market overview from the Office for National Statistics was released today. Main takeaways are:
- Number of vacancies fell by 24,000 to 812,000 in the three months to December 2024 from the previous quarter.
- Rate of unemployment increased to 4.4% from 4.3%.
- There was an estimated drop of 47,000 payrolled employees in December 2024 alone to 30.3 million.
- Pay growth (excluding bonuses) rose to 5.6% from 5.2%.
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