During the last quarter, the labour market has remained broadly steady according to the latest release from the Office for National Statistics. Employment, unemployment, and economic inactivity have all proven to be unchanged. However, vacancies have continued to fall this period and depending on what happens to the economy, this presents the prospect of further cooling. It is also important to note that these figures are estimated by the ONS and were derived using growth rates from PAYE (tax records) and the Claimant Count (benefits data) for the period from May to July 2023 onwards.
