UK job market continues to recover – POLITICO

The UK employment picture is bright for the three months from November 2021 to January 2022, with the unemployment rate falling to 3.9% from 4.1% in the previous quarter, the Office for National Statistics said. report Tuesday.

Meanwhile, the employment rate increased to 75.6%, up 0.1 percentage point from the previous quarter. However, the labor market still has some slack, according to the ONS.

“The number of people who lost their jobs and were not looking for work has rebounded, meaning total employment remains far below pre-pandemic levels,” said ONS chief economist Grant Fitzner.

The number of vacancies also hit a new record of 1,318,000, up from 105,000 in the previous quarter, although the growth rate slowed.

The overall picture of a stabilizing labor market highlights the possibility that the Bank of England will tighten policy further at its next meeting on Thursday, with inflation continuing to heat up. UK job market continues to recover - POLITICO

Fry Electronics Team

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