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Labour Market Statistics

Labour Market statistics

◼ 1.29 million people were unemployed, down on the previous quarter and slightly down on February 2020

 ◼ Long term unemployed has fallen to a record low

◼ Unemployment levels in young people have decreased to below pre-pandemic levels (16-17=22% / 18- 24=9.9%)

◼ 5.6 million people were claiming Universal Credit, of which 1.6 million were searching for work

 ◼ Vacancies increased to a record level of 1,288,000, an increase of 492,400 from pre-pandemic levels

 ◼ Payrolled employees increased to 29.6 million, 4.9% higher than March 2021

 ◼ Economically inactive rate has increased to 8.86 million, 487,000 higher than February 2020, driven by a rise in the over 50s

 ◼ Level of redundancies increased slightly to 2.7 per thousand employees well below pre-pandemic levels