Tuesday 12th October 2021 - 08:37 (BST)
Figures released by the National Statistic office have indicated UK unemployment has fallen to its lowest level in over a year between June and August 2021. The overall rate fell to 4.5%, in line with market expectations and immediately sending GBP higher as market concerns surrounding post-furlough redundancies subside.
The number of unemployed people was also down by 126,000 to 1.51 million and employment levels rose by 235,000 to 32.42 million - slightly less than the market consensus of 243,000 but still highlighting a positive move in the right direction.
Employees on company payrolls rose by 207,000 to a record 29.2 million in September, whilst job vacancies hit an all-time high of 1.1 million as staff shortages caused by a mixture of Brexit regulations and coronavirus restrictions continue to mount.
Attentions now turn to Augusts UK GDP reading tomorrow along with performance within the country’s manufacturing and industrial production sectors. Recent spikes in energy prices have left many businesses struggling to maintain a profit margin with government intervention now being discussed.
