{"id":13775,"date":"2024-10-15T16:58:12","date_gmt":"2024-10-15T15:58:12","guid":{"rendered":"https:\/\/www.hiringlab.org\/uk\/?p=13775"},"modified":"2024-10-24T19:51:33","modified_gmt":"2024-10-24T18:51:33","slug":"uk-employment-figures-october-2024-continuing-to-cool","status":"publish","type":"post","link":"https:\/\/www.hiringlab.org\/uk\/blog\/2024\/10\/15\/uk-employment-figures-october-2024-continuing-to-cool\/","title":{"rendered":"UK Employment Figures, October 2024: Continuing to Cool"},"content":{"rendered":"\n

The UK labour market continued to cool over the summer, with wage growth easing further and vacancies trending down. There\u2019s little in the latest data from the Office for National Statistics<\/a> (ONS) that is likely to derail the steady pace of interest rate cuts anticipated<\/a> from the Bank of England over the coming months.\u00a0<\/p>\n\n\n\n

Though the headline national unemployment rate dipped by 0.4 percentage points to 4.0% in the three months to August, underlying data quality issues suggest that figure should continue to be taken with a pinch of salt. The broad challenges facing the UK labour market haven\u2019t gone away, including a persistent inactivity gap, worker shortages in some sectors (despite the overall cooling) and an employment rate that still hasn\u2019t returned to pre-pandemic levels. <\/p>\n\n\n\n

Inactivity fell in the three months to August, but remains well above its pre-pandemic level and continues to contribute to an incomplete employment recovery. This stubbornly high inactivity underlines why the Labour government is prioritising employment support and tackling long-term sickness<\/a> to try and get more workers back from the sidelines.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Boosting workforce participation remains a challenge.<\/p>\n","protected":false},"author":103,"featured_media":13777,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"recruiter-hub-blocks.php","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[1],"tags":[],"post_mwm_category":[349],"post_topic":[],"post_content_type":[],"post_duration":[],"post_actions":[],"post_franchise":[],"post_mwm_author":[305],"class_list":["post-13775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","post_mwm_category-state-of-the-labour-market","post_mwm_author-jackkennedy"],"acf":[],"yoast_head":"\nUK Employment Figures, October 2024: Continuing to Cool - Indeed Hiring Lab UK I Ireland<\/title>\n<meta name=\"description\" content=\"The UK labour market continued to cool over the summer, with wage growth easing further and vacancies trending down.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hiringlab.org\/uk\/blog\/2024\/10\/15\/uk-employment-figures-october-2024-continuing-to-cool\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Employment Figures, October 2024: Continuing to Cool - 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