Category: Research

Latest UK Labour Market & Youth Employment Statistics

UK Labour Market Statistics 

In February 2024 to April 2024, the UK employment level (for those aged 16 years and over) is down on both the year and the quarter.

9.43 million people aged 16-64 were economically inactive, and the inactivity rate was 22.3%, above estimates of a year ago, and increased in the latest quarter.

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Youth Employment Statistics

There were 570,000 young people aged 16 to 24 who were unemployed in February 2024 to April 2024, an increase of 77,000 from the previous year.

The unemployment rate (the proportion of the economically active population who are unemployed) for 16 to 24-year-olds was 13.6%. This is up from 11.3% the year before.

The number who are economically inactive (not in or looking for work) was 41.5% or 2.96 million up 2.9% from the previous year.

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Youth Employment Statistics

There were 502,000 young people aged 16 to 24 who were unemployed in November 2023 to January 2024, an increase of 21,000 from the previous year.

The unemployment rate (the proportion of the economically active population who are unemployed) for 16 to 24 year olds was 12.1%. This is up from 11.1% the year before.

The number who are economically inactive (not in or looking for work) increased by 248,000 compared to the previous year, to 2.96 million.

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UK Labour Market Statistics

In the year to November 2023 to January 2024, employment, unemployment and economic inactivity levels have all increased, although there has been a fall in the employment rate. 

9.25 million people aged 16-64 were economically inactive, and the inactivity rate was 21.8%. Inactivity levels increased by around 100,000 over the last year and the inactivity rate increased slightly.

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Employment boost of 200,000 as cost of living support extended

Plans to boost economic activity while supporting vulnerable people with the cost of living will be driven through by Work and Pensions Secretary Mel Stride, as the Government unveiled its Budget for Long Term Growth.

While unemployment has been almost halved since 2010, the £2.5 billion Back to Work plan will help thousands of people with disabilities, long-term health conditions and the long-term unemployed, to move into jobs.

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Unemployment – National: Key Economic Indicators

The UK harmonised unemployment rate for Q4 2023 was 3.8%, down from 4.1% in Q3 2023.

This was above Germany (3.1%) and the US (3.7%) but below France (7.5%).

Youth (aged 15-24) unemployment is a major issue in many developed economies at present. In Q4 2023, the youth unemployment rate was 28.8% in Spain and 28.2% in Greece. It was 11.6% in the UK.

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Prime Minister to boost apprenticeships and cut red tape for thousands of small businesses

£60 million new investment to enable up to 20,000 more apprenticeships, including for young people and small businesses.

The Government will fully fund apprenticeships in small businesses from 1st April by paying the full cost of training for anyone up to the age of 21 – reducing costs and burdens for businesses and delivering more opportunities for young people to kick start their careers.

Read more here.

Youth Unemployment Statistics

In February 2024, the Office for National Statistics (ONS) reintroduced Labour Force Survey (LFS) data, which also includes a population reweighting. This is after only some experimental headline data was published between October 2023 and January 2024 due to falling response rates.

There were 481,000 young people aged 16 to 24 who were unemployed in October to December 2023, a decrease of 10,000 from the previous year.

Youth unemployment is currently at a historically low level. Youth unemployment fell to 406,000 in May to July 2022 which was the lowest recorded level since records began in 1992. However, since then it has been gradually increasing.

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Unemployment – National: Key Economic Indicators

In February 2024, the Office for National Statistics (ONS) reintroduced Labour Force Survey (LFS) data, which also includes a population reweighting. This is after only some experimental headline data was published between October 2023 and January 2024 due to falling response rates.

There were 1.32 million unemployed people in the UK in October to December 2023, a decrease of 13,000 from the previous year.

481,000 young people aged 16-24 were unemployed in October to December 2023, 10,000 fewer than the year before.

The unemployment rate for 16‑24 year olds was 11.6%, an increase from 11.5% a year before.

Read more here.

Employment – National: Key Economic Indicators

In February 2024, the Office for National Statistics (ONS) reintroduced Labour Force Survey (LFS) data, which also includes a population reweighting. The ONS have said these estimates should be treated with additional caution.

33.17 million people were in employment in October to December 2023. Employment was up 72,000 from the previous quarter and up 107,000 from the year before.

The employment rate (the proportion of the population aged 16-64 in work) was 75.0%, down from 75.2% a year previously.

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Over £1 billion awarded to roll out lightning-fast broadband in hard to reach towns and villages

The government’s rollout of next-generation broadband is steaming ahead with around £1.1 billion in contracts now signed to connect 677,000 rural homes and businesses across England.

Six new contracts worth more than £450 million were announced on the 6th February, allowing suppliers to immediately begin detailed surveying work to connect around 236,000 premises across England, with the first premises expected to be connected in early 2025.

The upgrades will help grow the economy, create jobs and deliver long-term change for a brighter future by making it easier to set up a business, and giving rural communities access to networks designed to meet people’s needs for decades to come as the demand for fast connections continue to rise.

Read more here.