Business Administration

The UK Labor Market Outlook for July 2021

Early estimates for July 2021 show that the number of employees on payroll increased by 2.0 %, or 576,000 employees, over July 2020. Nevertheless, the number of employees on payroll has decreased by 0.7%, or 201,000 workers, since February 2020. Besides this, when compared to June 2021, there were 182,000 more individuals employed in July 2021.

As such, early projections for July 2021 show a 6.4% increase in median monthly income when compared to July 2020. Likewise, comparisons with February 2020 show a 6.4 % increase in median pay.

County Analysis

Between July 2020 and July 2021, there was an increase in payrolled employees across all age categories. This resulted in a total of 247,000 payrolled employees under the age of 25. As far as counties are concerned, Gwynedd had the biggest annual growth in payrolled employees in July 2021, at 6.1 %. On the other hand, Haringey and Islington had the lowest, at 0.9%.

Industrial Analysis

Between July 2020 and July 2021, the administrative and support services industry grew the most by 212,000 people. Additionally, the wholesale and retail sector grew the least, by 20,000 employees, bringing the total fall to 50,000 people. According to statistic estimates, three of the industries that have seen the most job losses have continued to see monthly increases in payroll employees. For example, in June and July 2021, the hospitality industry added 32,000 employees, while arts and entertainment added 13,000 employees.

Besides this, the wholesale and retail sector employed 7,000 more people on a payroll basis. The arts and entertainment industry had the biggest annual growth in pay with a growth rate of 15.9%. In contrast, the households sector had the lowest growth rate of negative 0.6%.

COVID-19 Impact

The decline in employees and median pay seen following the start of the coronavirus (COVID-19) pandemic is no longer contributing to the annual growth rate. This is as far as the comparison between the annual growth rates July 2021 and those of July 2020 are concerned. That said, annual growth rates are now being compared to this lower starting point. If you have been made redundant as a result of Covid 19 you may be interested in seeing ‘market research recruitment

Details about the Information in This Release

Early projections for July 2021 are presented to indicate the expected number of employees and median salary in the most recent period. The statistics for July 2021 are predicated on approximately 85% of data being accessible. They are deemed to be of poorer quality and could be revised in August’s release where almost all the information needed might be readily accessible.

This effort began in April 2020 as a response to the coronavirus (COVID-19), and approaches are still being developed. At the UK level, a revisions triangle is provided for employees and median pay.

This release covers people who are paid through the Pay As You Earn (PAYE) system. In addition, it also covers those whose pay is reported through the Real-Time Information (RTI) system. Moreover, workers who are suspended under the Coronavirus Job Retention Scheme (CJRS) should still have their salaries reported through this system. As a result, they should appear in these figures and participate in the wages statistics for the relevant periods.

Wind Up

Monthly estimates reflect the aggregate of such people for each day of the calendar month. More importantly, the figures indicated herein are based on people who are working in at least one job paid through PAYE. This comes after the implementation of a new approach in December 2019, which was aimed to better accord with worldwide labour market data norms. Before December 2019, the technique used to generate data was based on the total number of workers paid in a certain time.