Economics
Student Videos
2022 Exams - Key Application Data on the UK Labour Market
- Level:
- A Level, IB
- Board:
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 16 May 2022
In this video we look at a range of key statistics on the UK labour market in 2022 and add in some useful commentary.
Indicator
UK resident population
67.1 million
Population of working age
41.3 million
Employed labour force
32.5 million
Unemployment rate
3.8% of the labour force
Unemployment level
1.3 million
Youth unemployment rate
11.3% of 16-24 year olds
Employment rate
75.5% pop of working age
Job Vacancies in the UK
1.25 million
People on zero-hour contracts
920,000 (2.6% of jobs)
Trade Union membership
6.6 million (24% of all)
Median full-time earnings
£31,000 (£611 a week)
Mean full-time earnings
£38,000
Size of the Gender Pay Gap
15.4%
Number of people economically inactive
21% of pop of working age
Number of people long-term unemployed
320,000 (25% of total U)
UK Gini Coefficient
34.4 per cent (or 0.34)
Net migration into the UK per year
2019: 277K, 2020: 130K
Age-dependency ratio
57% of working age pop
Minimum wage for adult workers (aged 23+)
£9.50 per hour
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