Labour market update for London – April 2022
Alongside the summary of key points below, you can view the interactive version of our London labour market update.
To complement our London-level update, you can find the more in-depth analysis of Claimant Count data for London boroughs here.
This month we are also releasing an ad hoc analysis on payrolled employments by worker nationality and industry in London, which you can find here.
Previous updates and other labour market analyses are also available.
- The most timely estimate of payrolled employees shows an increase of around 16,100, or 0.4%, in London between February and March 2022 and is 1.2% above pre-pandemic (February 2020) levels.
- The employment rate in London was estimated at 75.8% for the three months ending February 2022, up 0.2 percentage points (pp) on the previous quarter and up 1.6pp on the same period in the previous year. London’s employment rate remains close to the UK average (75.5%).
- The unemployment rate continued to fall from its pandemic peak but is still higher than the UK average. London’s unemployment rate was estimated at 4.6%, down 0.8pp on the quarter and down 2.6pp from a year earlier. The UK average was 3.8%.
- London’s inactivity rate (the measure of those not looking and/or not available to work) was estimated at 20.4%. This was up 0.5pp on the previous year and up 0.2pp on the previous quarter but remains lower than the UK-wide estimate of 21.4%.