ONS Labour Market January 2025
Payrolled Employees:
- Decreased by 47,000 (0.2%) in December 2024, reaching a provisional estimate of 30.3 million.
- Increased by 134,000 (0.4%) year-on-year from November 2023 to November 2024.
Employment, Unemployment, and Inactivity Rates:
- The employment rate was 74.8% from September to November 2024, showing no significant annual change but a slight decline from the previous quarter.
- The unemployment rate was 4.4% in the same period, up both quarterly and annually.
- The economic inactivity rate was 21.7%, down from the previous year and the latest quarter.
Claimant Count and Vacancies:
- UK Claimant Count for December 2024 rose on the month and year to 1.769 million.
- Vacancies fell by 24,000 in October to December 2024 to 812,000, marking the 30th consecutive quarterly decrease but still above pre-pandemic levels.
Earnings Growth:
- Annual growth in average regular earnings (excluding bonuses) was 5.6% from September to November 2024.
- Annual growth in total earnings (including bonuses) was also 5.6%.
- Real terms annual growth (adjusted for CPIH inflation) was 2.4% for total pay and 2.5% for regular pay.
Labour Disputes:
- An estimated 51,000 working days were lost due to labour disputes in November 2024.
Wage growth ticks up in December
Source: ONS
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