Estimates from the Labour Force Survey provided by the Office for National Statistics on 12 June show that between the periods November 2017 to January 2018 and February to April 2018, the number of people in work increased, the number of unemployed people decreased and the number of people aged from 16 to 64 years not working and not seeking or available to work (economically inactive) also decreased.
At the end of the last period, there were 32.39 million people in work, 146,000 more than the previous period and 440,000 more than a year earlier.
The employment rate (the proportion of people aged from 16 to 64 years who were in work) was 75.6%, higher than a year earlier (74.8%) and the joint highest since comparable records began in 1971.
There were 1.42 million unemployed people, and the unemployment rate was 4.2% — the joint lowest percentage since 1975.
Commenting on the latest labour market figures, Suren Thiru — head of economics at the British Chambers of Commerce — said: “The marked increase in employment and the continued drop in the number of people out of work confirm that the UK labour market continues to perform robustly, even though wider economic conditions are weakening.
While a slowing economy may start to weigh more heavily on jobs growth in the coming months, the high degree of flexibility in the UK labour market is likely to help curb the extent of any increase in unemployment.
“While pay is still outpacing price growth, the slowdown in earnings growth is a concern. Delivering sustained rises in real pay growth is likely to prove an uphill struggle amid weak productivity and a sluggish economy.
“Meanwhile, the small increase in job vacancies is further indication of the chronic skills shortage, with firms reporting that they are increasingly struggling to find staff with the right skills, which is stifling business growth and productivity.
“More needs to be done to safeguard the long-term health of the UK labour market, including reforming the Apprenticeship Levy through allowing more Levy funding to be passed down the supply chain and providing more support for SMEs accessing apprenticeship funding. Greater clarity is also needed on the UK’s future immigration regime.”