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MNI DATA BRIEF: UK Job Vacancies Hit Record High

(MNI) LONDON
(MNI) London

Employment rose by 182,000 in July, according to PAYE data, after a vastly-downwardly revised 193,000 in July (originally reported as +356,000), the Office for National Statistics said Tuesday. LFS data, which includes a wider range of workers and targets a different period, rose by a more modest 95,000 in Q2, but that was enough to push the unemployment rate down to 4.7% from 4.8% in the three months to May.

But vacancy data suggest a mismatch in worker skills and job requirements, with vacancies rising by 290,000 in the three months to July (compared with the three months to April), lifting vacancies to a record high 953,000, above the pre-pandemic level. Between June and July, vacancies increased by 50,000 to a record 1.034 million. The inactivity rate, which has been a bit sticky over the previous months of strong job creation, declined to 21.1% from 21.3% in the three months to May, while the employment rate rose to 75.1% in Q2 from 74.8% between March and May.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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