London Employment Trends
The unemployment rate in London was 5.6% as of August 2023, up 0.6% from the previous month. The unemployment rate stood 6% below the peak from June 2020 and is below the long-run average.
There were 2,800 more full-time jobs in August 2023 compared to a month earlier. A gain of 1,500 part-time positions led to an increase of 4,300 total jobs in August.
Full-time employment has recovered since reaching a bottom in July 2023 and now stands at a record high.
The number of full-time jobs in August was up from the previous month in agriculture, natural resources, manufacturing, trade services, transportation & warehousing, professional & scientific services, healthcare, and accommodation & food services.
Full-time job losses in August occurred in utilities, construction, the financial sector, business & building services, education, information & cultural services, and public administration.
* All figures are seasonally adjusted, 3-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.
