Labour Market Statistics
November 14 2023 - The unemployment rate stands at 4.2%, largely unchanged on the previous quarter. 30.2 million people were in work in October based on payroll data. This was 33,000 more than the previous month but are subject to revision. It is 1.19 million more than the February 2020 pre-pandemic level.
The working age employment rate for July to September 2023 was estimated at 75.7% compared with 75.8% in the previous quarter.
Average wages, including bonuses rose by 7.9% and 7.7% excluding bonuses over the year. Taking inflation into account, these increases were equivalent to 1.4% and 1.3% in real value.
TUC General Secretary Paul Nowak said:
"Our economy is in the relegation zone.
"Unemployment remains 225,000 higher than a year ago with vacancies continuing to decline.
"Working people are far worse off than they were when the Conservatives took office.
"If pay packets had been growing at pre-crisis levels, workers would be on average nearly £15,000 better off. And across parts of the economy, real wages are still shrinking.
"The Conservativesí economic mismanagement is costing people their jobs and livelihoods. It's time for change."