Responding to today’s ONS labour market figures, Jon Boys, senior labour market economist for the CIPD, the professional body for HR and people development, comments:

“With increased volatility in the estimates, it’s brave to draw out strong conclusions from small quarterly changes in the data. The big picture though, remains the same. Inactivity continues to rise which will worry policymakers and businesses struggling with unfilled vacancies. Unemployment held steady and remains at historically low levels. This means there are few people looking for and available to work.

“There are signs that the labour market continues to cool but only slowly. Vacancies – a measure of employer demand for staff - for example, continue their descent but remain above pre-pandemic levels. There has also been a sizable increase in the number of people reporting redundancy. Pay is also growing at a slower rate, but with falling inflation this does mean that in real terms, pay packets continue to grow.

“Financial crashes and pandemics yank the carpet from underneath employers and require a swift response, but it’s more usual to encounter a slowly unfurling trend, in this case a cooling labour market. Employers need to conduct proper workforce planning so that they have the long-term capacity to meet demand. They mustn’t take their eye off the ball with regards to training and development, investment in which has fallen away in recent years.”

Notes to editors

If you wish to reproduce this press release on your website, please link back to this page as the original source

Learn more about our work

Views and insights

The latest views and insights from our experts on the world of work

Knowledge hub

Keep up-to-date on the latest research and current practices with our reports, factsheets and guides

Our purpose and impact

Better work and working lives for all

The People Profession

Develop your career in the people profession and make an impact.

More about us

CIPD Media Centre

an interview

To get a fresh, evidence-based perspective from one of our expert commentators – on this or any other workplace issue – please contact our press team on +44(0)20 8612 6400 or

Callout Image

Championing better work and working lives

the CIPD

At the CIPD, we champion better work and working lives. We help organisations to thrive by focusing on their people, supporting economies and society for the future. We lead debate as the voice for everyone wanting a better world of work. 

Callout Image