Documents to download

The continued high rate of inflation meant that real earnings continued to fall in real terms in the three months to July 2022. The fall for earnings excluding bonuses was the largest since records began in 2001.

In May-July 2022, there was a large increase in economic inactivity, while monthly employment data shows a fall in employment. Unemployment and fell in the latest quarter.

The number of vacancies fell again in the latest quarter, but remain well above pre-pandemic levels.

Key figures

  • In May-July 2022, the number of people aged 16+ in employment was 32.75 million, and the employment rate was 75.4%, down slightly from 75.6% in the previous quarter. Employment levels have risen over the past quarter and the past year, but are still 236,000 below their pre-pandemic level.
  • The UK unemployment rate was 3.6%, and 1.22 million people aged 16+ were unemployed. Unemployment levels fell by 76,000 since the previous year and fell by 332,000 since the previous year, and are 152,000 below their pre-pandemic levels.
  • 9.01 million people aged 16-64 were economically inactive, and the inactivity rate was 21.7%. Inactivity levels increased on the quarter and the year, and were 565,000 above their pre-pandemic level.
  • The number of vacancies fell on the quarter to 1.27 million in June-August 2022, after rising steadily since April-June 2020 and reaching a record high of 1.29 million in March-May 2022. Vacancies are still 470,000 above pre-pandemic levels.
  • Average wages fell in real terms in the three months to July 2022, with an annual change of -4.0% excluding bonuses and -3.7% including bonuses.

Documents to download

Related posts