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

“Falling numbers of people out of work is really good news for the city, showing that London is bouncing back from the effects of the pandemic. However, as a reminder that London isn’t without its own substantial levelling up challenges, the unemployment rate continues to be above the national average, and higher than every other region except the North East.

But alongside the encouraging news that fewer Londoners are out of work is the worrying data that people’s take home pay is falling behind surging prices. Few Londoners are escaping the pain caused by soaring fuel prices, rising council tax, transport fares and National Insurance, yet their salaries aren’t keeping pace. For those Londoners on the lowest incomes, the pain is particularly acute and daily decisions for many will be a choice between food and other essentials. The pressure will continue to build on the Government to do much more to alleviate the worst effects of the cost of living crisis on those most in need, otherwise many more Londoners will fall below the poverty line.”