UK payrolls near pre-pandemic level, unemployment declines

17.08.2021 - Davydova Maria
UK payrolls near pre-pandemic level, unemployment declines

The number of employees on British company payroll inched near its pre-pandemic level in July, while pay growth touched a record high despite some distortions caused by COVID-19 lockdowns.

Based on the data released by the Office for National Statistics on Tuesday, payrolls climbed 182,000 to 28.9 million in July, just 201,000 short of the figure reached before the COVID-19 pandemic struck in March 2020.

Meanwhile, the unemployment rate dropped to 4.7% in the three months to June, the lowest since the three months to August 2020.

The jobless rate was projected by economists to remain at 4.8 percent.

Finance Minister Rishi Sunak’s job subsidies bolstered Britain’s labor market. The incentive provided wages to 8.9 million jobs during the first lockdown in May 2020 before dropping to 1.9 million jobs by the end of June 2021. It will be terminated by the end of September.

Overall, the promising figures are seen to increase confidence in an economic recovery with less long-term damage than the economists initially feared.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?