The Learning and Work Institute are an independent policy, research and development organisation dedicated to lifelong learning, full employment and inclusion. They research what works, influence policy, develop new ways of thinking, and help implement new approaches. Every month, they produce a detailed and timely analysis of the latest labour market statistics. They examine what the figures tell say both about the health of our labour market, and what they mean for peoples’ experience of work, with a particular focus on groups facing labour market disadvantage.
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- Unemployment is 1,293,000, up by 40,000 from last month’s published figure (quarterly headline has risen by 49,000) and the unemployment rate 3.8%, is up by 0.1 percentage points on last month and rose by 0.1 percentage points on last quarter.
- The ONS figure for claimant unemployed is 1,527,400, up by 28,200 on last month.
- The number of workless young people (not in employment, full-time education or training) is 1,014,000, up by 81,000 on the quarter, representing 14.8% of the youth population (up by 1.2 percentage points).
- Youth unemployment (including students) is 459,000, down by 2,000 on the quarter.
- Vacancies decreased again in Jan-Mar 2023 (in the ONS official series) to 1,105,000 for the tenth month in a row.
- There are more unemployed people than current job vacancies, with 1.2 unemployed people per vacancy.
- The employment rate is 75.8% (up by 0.1 percentage points on last month’s published figure and up by 0.2 percentage points in the preferred quarterly measure).
The report also covers the following topics,
1. The decline of real earnings as inflation increased in February
2. Highlighting there are fewer potential workers for employers to recruit.
3. Levels of economic activity have many causes
4. Industrial action increased in February
5. Over one million young people are not in either employment or full-time education
6. The employment pictures varies across the country
To read the full report click here