UK employment rate estimated 74.8% in Q3 2024, unemployment rate 4.3%

The UK unemployment rate for people aged 16 and over was estimated at 4.3 per cent in Q3 2024. This is above estimates of a year ago, and up in the latest quarter.

Estimates for payrolled employees in the UK decreased by 9,000 between August and September this year, but rose by 136,000 (0.4 per cent) between September 2023 and the same month this year.

Payrolled employees fell by 9,000 (0.0 per cent) over the quarter but rose by 182,000 (0.6 per cent) over the year, when looking at July to September 2024, which is the period comparable with our Labour Force Survey (LFS) estimates.

The UK economic inactivity rate for people aged 16 to 64 years was estimated at 21.8 per cent in Q3 2024. This is below estimates of a year ago, and down in the latest quarter.

The estimated number of vacancies in the country decreased in the August-October period this year by 35,000 QoQ to 831,000. Vacancies decreased QoQ for the 28th consecutive period, but are still above pre-COVID-19 pandemic levels.

Fibre2Fashion News Desk (DS)