2022 Exams - Key Application Data on the UK Labour Market

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