The UK’s unemployment rate fell to 4.3 per cent last month from 4.5 per cent while the number of UK workers on company payrolls surged by 160,000
The figures showed that there was no sign of a jump in redundancies despite the furlough support scheme coming to an end.
The Office for National Statistics The ONS said survey responses so far suggest only a small number of redundancies have been made among the 1.1 million still on furlough when the scheme closed.
Sam Beckett, ONS head of economic statistics, said: “It might take a few months to see the full impact of furlough coming to an end, as people who lost their jobs at the end of September could still be receiving redundancy pay.
Vacancies at UK companies hit a record level too in August to October 2021, rising to 1,172,000, an increase of 388,000 from the pre-coronavirus (COVID-19) pandemic January to March 2020 level, with 15 of the 18 industry sectors showing record highs.
Matthew Percival, CBI Director of People & Skills, said:
“The UK’s jobs outlook remained strong over the summer with employment figures rising and unemployment falling. However, ongoing supply chain issues, labour shortages and record high vacancies have put a brake on growth.
“The Supply Chain Advisory Group is a positive development, demonstrating the Government’s willingness to work in partnership with business to tackle current challenges. Companies will continue to face these issues well into the New Year, so it’s important this spirit of collaboration is maintained to safeguard the UK’s economic recovery.”