The Office for National Statistics (ONS) has released its January 2025 employment statistics, which show economic inactivity has remained steady but employment figures are a cause for concern.
The economic inactivity rate as of November 2024 stood at 21.6%, this represents a 0.2 percentage point (pp) drop from the previous quarter but is still 1.3pp above pre-pandemic levels. Unemployment saw more fluctuation, up 0.4pp in November 2024 to 4.4%. The rise is at a similar level since the pandemic, where it has risen 0.5pp. Julia Turney, head of platform and benefits, Barnett Waddingham, said: "The latest unemployment figures are a sobering reminder that we still face a significant uphill climb." Whilst unemployment and economic inactivity are on the rise, November 2024 saw ...
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