Wage Growth vs Inflation: Who Is Keeping Up?
Immigration saw a notable increase in 2024 with around 116,000 newcomers.
Last updated: 2026-03-19
Key insights
- Immigration saw a notable increase in 2024 with around 116,000 newcomers.
- Emigration also rose significantly to approximately 86,000 in 2024.
- The employment rate for individuals aged 20-64 slightly decreased to 80% in 2024.
Analysis
From 2015 to 2024, immigration trends displayed fluctuations, with a significant peak in 2016 at around 163,000 people. After a dip during the pandemic in 2020, immigration rebounded to around 116,000 in 2024, indicating a recovery in the inflow of newcomers. Conversely, emigration has shown a steady increase, particularly in the last two years, where it reached approximately 86,000 in 2024, the highest in the observed period.
In terms of employment, the rate for individuals aged 20 to 64 years saw an upward trajectory from 78.5% in 2020, peaking at about 81% in 2023. However, this figure fell back to around 80% in 2024. Additionally, long-term unemployment rates fluctuated, with a noticeable improvement to around 3.2% in 2024 after a peak in 2021. These trends reflect ongoing challenges and adjustments in the labor market amidst changing immigration patterns.