Responding to the latest ONS unemployment data, Nick Bowes, Chief Executive at Centre for London said: 

“London’s unemployment rate is falling fast and it is encouraging to see it bouncing back after the devastating impact of the COVID-19 pandemic. While there is significantly fewer people out of work in the city than there was this time last year, the number of people who are economically active has also fallen. Some possible explanations for the fall in the number of economically active Londoners could be that it’s a result of changing working patterns, increased caring responsibilities or the impact of long Covid on the workforce, but it will be crucial to understand these trends in more detail.

“However, London’s unemployment rate still remains above average, and is the third highest region in the UK, behind the West Midlands and the North East. The city needs to support those out of work with the skills and confidence they need to return to the workplace in a post-pandemic world.”