Welcome improvement in the inactivity rate

Commenting on this morning’s release of labour market statistics, Kitty Ussher, Chief Economist at the Institute of Directors, said:

“The labour market remains tight, with a historically high vacancy rate, low unemployment and a low redundancy rate meaning businesses are still finding it hard to recruit. Conversely, for those looking for work, there are plenty of opportunities.

“Today’s data also shows a welcome improvement in the inactivity rate, which is down 0.4% on the quarter. This is largely due to younger people being more confident about entering the labour market than they were during the pandemic.”