LABOUR MARKET CONTINUES TO TIGHTEN BUT PAY GROWTH FALLS FURTHER BEHIND INFLATION
The latest Labour Market update shows a labour market that continues to tighten, with employment figures largely unchanged, unemployment decreasing, and vacancies at a new record high. Real time Pay-As- You-Earn data for April 2022 showed that the number of payrolled employees increased, up by 121,000 to a record 29.5 million. However, due to an increase in the rate of those who are economically inactive, the total number of workers in the labour market has decreased overall.
