The UK government’s furlough scheme ended the 30th September, with an estimated 1.1 million people still on the scheme up until its end.
While there were growing concerns around what this would to do employment, job recovery across the country continues, official figures showing an increase of 160,000 more workers on payrolls in October compared to September.
The rate of unemployment has now fallen to near pre-pandemic levels at 4.3%, while job vacancies hit a 1.17 million record high – firms continuing with the struggles of worker shortages.
Since the reopening of the economy, the demand for workers has continued, with significant gains reported in hospitality, healthcare and administration during October. The ONS (Office for National Statistics) reports in their Labour Market Overview, UK: November 2021 that:
“Our most timely estimate of payrolled employees indicate that in October 2021 there were 29.3 million employees, up 160,000 on the revised September 2021.”
“It is possible that those made redundant at the end of the furlough scheme will be included in the RTI data for a few further months, while they work out their notice period.”
“However, responses to our business survey suggest that the numbers made redundant was likely to be a small share of those still on furlough at the end of September 2021.”
More from News
- How Meta Is Helping The UK Government With Public Services
- Recent Studies Show The Mental Health Risks Of AI Therapy Choices
- How Did A Fake AI-Generated Band Fool Thousands Of Listeners?
- What Influences Bitcoin Prices And Fluctuations?
- World’s First AI Chef To Come This September. Here’s How It Works
- Microsoft Who? Nvidia Has Officially Become the First Company to Surpass a $4 Trillion Market Cap
- Are AI Startups Investing In Teachers Learning AI A Good Move For Education?
- Can a Robot Really Perform Surgery Without Human Help?
This news comes as some relief amidst fears that ending furlough would result in a spike of unemployment. The ONS’s Head of Economic Statistics Sam Beckett commented the following on the news:
“It might take a few months to see the full impact of furlough coming to an end, as people who lost their jobs at the end of September could still be receiving redundancy pay.”
“However, October’s early estimate shows the number of people on the payroll rose strongly on the month and stands well above its pre-pandemic level.”
“There is also no sign of an upturn in redundancies and businesses tell us that only a very small proportion of their previously furloughed staff have been laid off.”
While the country’s economy is showing signs of recovery from the COVID-19 pandemic, inflation continues to be a concern.
