Wages have grown fastest since 2007
With coronavirus restrictions further eased and pubs and restaurants once again began serving people indoors, the number of people employed in the UK jumped to record numbers during May.
However, employment figures are above pre-pandemic highs of 500,000.
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The unemployment rate has fallen for the fourth consecutive month of the quarter that ends in April.
Tax data, available on Tuesday, shows that UK companies increased employment numbers in May by 197,000, a significant increase in one month since records began until July 2014.
Furthermore, wages have grown at the fastest since 2007, the year ended in April, but in comparison with a year-ago decline, in addition to the massive unemployment among low-wage employees, the figures are It’s somewhat distorted.
“The latest forecast for unemployment is about half of what was previously feared, and payroll employees are at the highest level since last April,” said Finance Minister Rishi Snack.
Reis Caraff, financial analyst at AJ Bell, commented:
“Although all the dials in the labour market point in the right direction, they are heavily distorted by the effects of the gravity gravitational forces of the Farlow scheme, the lockdown lifting bottleneck, and the current annual comparisons wrapping the first wave of the crisis. Until this year’s backend, we will not be able to take a clear picture of the health of the pandemic post-economy, meaning that the Bank of England is not in a hurry to raise interest rates in the coming months. The UK is It appears to be firing with every cylinder.”
“Hospitality companies are suffering from friction burns. The entire sector is open and staff are hungry to make the most of their new freedoms to serve large numbers of customers. But the first play round After chasing, it is impossible to estimate the growth of reopening infinitely, as customers want to consume a certain amount of food and liquor. It applies to many sectors and indeed to the entire UK economy. .”
