Labour market update for London – May 2022
Alongside the summary of key points below, you can view an interactive web-based 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.
Previous updates and other labour market analyses are also available.
- The most timely estimate of payrolled employees shows an increase of around 9,240, or 0.2%, in London between March and April 2022 and is 0.8% above pre-pandemic (February 2020) levels.
- The employment rate in London was estimated at 75.2% for the three months ending March 2022, down 0.7 percentage points (pp) on the previous quarter and up 0.7pp on the same period in the previous year. London’s employment rate remains close to the UK average (75.7%).
- 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 4.7%, down 0.4pp on the quarter and down 2.2pp from a year earlier. The UK average was 3.7%.
- London’s inactivity rate (the measure of those not looking and/or not available to work) was estimated at 21.0%. While it remains lower than the UK-wide estimate of 21.4%, it was up 1.1pp on the previous year and up 1.2pp on the previous quarter.