UK workforce expands from May to July ’24

The UK employment rate for May to July 2024 stands at 74.8 per cent, an increase from the previous quarter, though it remains below estimates from the same period in 2023.

Meanwhile, the unemployment rate for the same period increased to 4.1 per cent, but still below last year’s estimates.

Economic inactivity dropped to 21.9 per cent, decreasing across all age groups between 16 and 64 years. Although this figure is higher than a year ago, it reflects a decline in the latest quarter.

Notably, the number of individuals unemployed for up to 12 months fell below 2023 levels, while those unemployed for over 12 months also declined, though they remain above last year’s estimates.

The reduction in economic inactivity was driven by fewer students, long-term sick, and retirees, although these gains were partially offset by an increase in discouraged workers and those inactive for other reasons.

Attribution: The Office for National Statistics (ONS)

Subediting: M. S. Salama