| 3 March 2024, Sunday |

UK jobs market recovers, drop in unemployment rates

Unemployment rates are dropping in UK, number of job vaccines rising, and job market showing signs of recovery, official figures forecasted

Unemployment stood at 4.7 percent in the three months to April, down from 4.8 percent previously, the Office for National Statistics (ONS) said.

The number of job vacancies in March to May was 758,000 – just 27,000 below pre-pandemic levels. However, unemployment among the young and those in hospitality remains high.

“The number of employees on payroll grew strongly in May, up by almost 200,000, although it is still over half a million down since the pandemic struck,” said Sam Beckett, ONS head of economic statistics.

“Job vacancies continued to rebound in the spring, and our early outlook suggest that by May the total had surpassed its pre-pandemic level, with strong growth in sectors such as hospitality.

Meanwhile, the redundancy rate remains subdued, while the number of employees on furlough has continued to decline.”

Unemployment rose sharply last year as the UK went through successive lockdowns, but it has gradually fallen this year.