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MNI BRIEF: UK Payrolls Top Pre-Pandemic Levels

MNI (London)

UK employment market continues to recover as economy reopens.

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Payroll employment rose by a record-high 241,000 in August, taking the number of people with salaried jobs 1,000 above the level seen in February 2020, the Office for National Statistics said Tuesday. The series, which dates back to July 2014, measures PAYE data and leads official employment statistics by a month .

Job vacancies also rose to a fresh record high, up 269,000 in the three months to August, taking the number of job openings to 1.034 million.

According to LFS data, which captures a wider range of workers, employment rose by 183,000 in the three months to July, the biggest gain since the three months to 2020. That pushed the unemployment rate down to 4.6% from 4.7% in the second quarter, in line with expectations. The jobless rate for August fell to 4.4%, according to experimental statistics, the lowest since June 2020. The overall employment rate rose to 75.1% in the three months to July, while the inactivity rate remained stuck at 21.2%, still well below the 20.2% held before the pandemic.


Source: ONS