UK Unemployment Fell to 4.2% in Q3 Despite Closure of Job Furlough Scheme

Source: Office for National Statistics

The UK job market strengthened further despite ending furlough as the number of payrolled workers rose by a record 257,000 last month. FTSE 100 up +0.39%, GBP USD up +0.28%

• The Office for National Statistics stated there is no sign on whether ending the furlough support scheme in September affected the jobs market, with workers on the payrolls rising by 0.9% to 29.4 million.
• Vacancies also rose by 184,700 to reach a new record of 1.22 million between September and November.
• The figures reflect a continued recovery in the labour market after the end of the job support scheme in September.
• Darren Morgan, ONS director of economic statistics stated that the number on payroll was now above pre-pandemic levels across the country.
• The employment rate for the three months ending October 2021 expanded by 0.2 percentage points to reach 75.5%.