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The Mayor of London The London Assembly

Labour market update for London – December 2021

Alongside the summary of key points below, we are introducing a new interactive version of our London labour market update.

  • Payrolled employees rose by around 55,400, or 1.4%, between October and November 2021 and is 0.1% above pre-pandemic (February 2020) levels. This was both the largest monthly percentage increase and the highest level of employees on record (since July 2014).
  • Unemployment rate estimated at 5.4% for the three months ending October 2021, down 0.6 percentage points (pp) on the quarter and down 1.2pp on the same period in the previous year (while the UK average was 4.2%).
  • Employment rate estimated at 75.4% for the three months ending October 2021, up 0.5pp on the previous quarter and up 0.6pp from a year earlier.
  • Workforce jobs increased by 39,500 or 0.7% between the second and third quarter of 2021, and is 127,000, or 2.1%, below pre-pandemic (December 2019) levels. While employee jobs have recovered, self-employed jobs remained 16.7% below pre-pandemic levels.