Number off work due to long-term ill health tops 2.5 million for first time on record
Unemployment remains at a near all-time low at 3.6% and there are a record number of people on payrolls, today’s figures also show that economic…
labour market
Labour Market Information (LMI) is information about what is happening in a labour market. LMI tends to focus on the industries that are growing and declining, the types and levels of jobs are increasing and decreasing and what supply of labour is available – numbers, skill and qualification levels.
Definition: A labour market is the place where workers and employees interact with each other. In this market, employers compete to hire the best, and the workers compete for the best satisfying job.
Every month, ONS releases information and statistics about the labour market.
Recruitment intentions are above pre-pandemic levels and appear to be on an upward trajectory. Almost three-quarters (74%) of employers say they are planning to take on new staff in the next three months. But as expected, recruitment difficulties remain, with 45% saying they have hard-to-fill vacancies.
The most popular response to hiring difficulties has been to raise pay (44%). But employers may be reaching a limit on how much further they can go on pay: only 27% anticipate raising pay in future to address hard-to-fill vacancies. Encouragingly, employers are also looking to other means to tackle staffing challenges: 39% have focused on upskilling more existing staff and 38% have advertised more jobs as flexible. These are vital factors in improving job quality and will be increasingly important for employers as they wrestle with recruitment as well as retention.
By 2035, higher skilled jobs and healthcare roles set to offset the millions of jobs displaced by automation and artificial intelligence
A number of megatrends and events are expected to shape the world of work in the coming decades. These include factors such as Brexit and…
Record lows in unemployment and record highs in long-term sickness poses huge challenge for policymakers
A tight labour market has seen pay growth strengthen and unemployment fall to a near-50-year-low. But the workforce continues to shrink, driven by economic inactivity…
Winning the war of words isn’t enough to deliver growth
REC’s take on the Party Conferences for FE News The atmosphere at the two major political party conferences this Autumn could not have been more…
Social mobility: how can the tech sector support young people?
Compared to other developed countries, the UK has one of the lowest rates of social mobility. While recognising that the reasons behind this stretch beyond…
Record rise in long-term ill health fuels tightest labour market in at least 50 years
The UK employment rate for May to July 2022 for people aged 16 to 64 years decreased by 0.2 percentage points on the quarter to…
The Road to Recovery: What the new Prime Minister Needs to do
The new Prime Minister needs to prioritise additional help for people on the lowest incomes, a plan to widen participation in the labour market and…
Workers plunged into deepest pay squeeze since the Silver Jubilee
Today (Tuesday 16th August), the Office for National Statistics have published the latest labour market figures. This month’s figures show that real wages have fallen…
Where will all the skilled workers come from?
A labour market crisis The UK has lots and lots (and lots) of jobs, but not enough people with the right skills to fill them.…
Vaughan Gething and Young Person’s Guarantee
As a Welsh Government, we made a commitment that no one would be held back or left behind as a result of the pandemic, in…
