Key Points:
The youngest workers have seen some of the largest increases in unemployment.
- In June, the unemployment rate for workers aged 16 to 19 was 14.6% - up from a post-pandemic minimum of 9.4% in April 2023 and from a 13.8% average rate from 2016 to 2019.
Unemployment Rate by Age
Dashed Lines Represent 2016 - 2019 Average Unemployment Rates
Wage growth continues to be relatively healthy across the wage distribution.
- However, rising energy prices have weighed on real incomes in recent months – particularly for lower-income households where energy accounts for a larger proportion of total expenditure.
Year-over-Year Wage Growth by Average Wage Level
Median of Tertile, 3-Month Moving Average
