The quite rapid tightening of the labour market of recent months took a pause in June, with the level of employment and the participation rate both ticking down, and the seasonally adjusted unemployment rate rising. The total number of jobs though remains at a record high, and unemployment is still below 3%, an unusually low level for the last twenty years.
This slight softening of the labour market from a quantity perspective was matched by a similar change in terms of quantity. Employment in the government sector and for over 60s held up. But jobs in other services softened a bit, as did the level of employment for younger people.