- Friday, April 26, 2024
By: Shilpa Sharma
THE UK witnessed a record increase in the number of workers on payrolls in May as the jobs market continued to recover.
There were 197,000 more people in payroll employment in May compared with April, the steepest increase since records began in 2014, according to the Office for National Statistics (ONS).
Figures also showed the unemployment rate dropped to 4.7 per cent in the three months to April, as against 4.8 per cent previously.
However, unemployment remained high among the young, especially those in London, the data revealed.
“Job vacancies continued to recover in the spring, and our early estimates suggest that by May the total had surpassed its pre-pandemic level, with strong growth in sectors such as hospitality,” said Sam Beckett, ONS head of economic statistics.
“Meanwhile the redundancy rate remains subdued, while the number of employees on furlough has continued to decline,” he added.
In 2020, unemployment grew sharply as the UK went through successive lockdowns, but it gradually reduced this year after the government eased restrictions.
With the number of job vacancies in most industries above pre-pandemic levels in May, firms seem to be expanding again, according to the ONS.
