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Unemployment falls

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The unemployment rate declined between March and May, slipping 0.2 percentage points to 4.8%. The Office for National Statistics report also revealed that there are more job vacancies now than there were before the pandemic, with 862,000 roles available in April to June. This is 77,500 above the number recorded in January to March 2020. Annual pay growth in the three months ending in May stood at 7.3%. Reflecting on the report, Chancellor Rishi Sunak said: “We are bouncing back”, adding that with the country approaching the final stages of reopening the economy, “I look forward to seeing more people back at work and the economy continuing to rebound”.

 

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