The ONS have released the latest Labour Market Overview covering the months of September – November 2022.
What Does This Mean For Youth Employment?
Headlines for young people aged 16 – 24
In work:
The employment rate has risen slightly on the previous quarter by 0.2ppts and is now 54%
The employment level has risen by just over 12,000 to 3,692,000
Unemployment:
The unemployment rate has risen by 0.6ppts to 11.1%
There are currently just under 461,000 young people classed as unemployed, an increase of 30,000 on the previous quarter
Economically inactive
The economic inactivity rate is 39.3%, a slight fall of 0.6 ppts on the previous quarter
The number of young people who are economically inactive stands at 2,686,000 down by just over 44,000 on the previous quarter
Headlines for all ages
In work
The employment rate for 16-64-year-olds stays the same as the previous quarter at 75.6%, and remains lower than pre-pandemic levels.
The number of people in employment rose by 7,000 on the previous quarter and now stands at 32,780,000 for all ages.
Unemployment
The unemployment rate for all ages is 3.7%, the same as the previous quarter and still below pre-coronavirus pandemic levels.
The number of people who are unemployed rose by 3,000 on the previous quarter.
Economically inactive
The economic inactivity rate for 16-64-year-olds stands at 21.5%, the same as the previous quarter.
The number of those classed as economically inactive was up by 9,000 for 16-64-year-olds.
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Youth Employment UK Membership is a strategic step for organisations of all sizes who want support and recognition for their commitment to creating quality early career opportunities in line with Good Youth Employment Standards.
As experts on youth employment and co-founders of the Youth Employment Group, we are ideally placed to understand the complex landscape facing young people, employers and policy makers.