Sunak`s Remarks On Employment Raises Hopes As Economy Reopens

"I look forward to seeing more people back at work and the economy continuing to rebound," Rishi Sunak said.

Rishi Sunak says UK is bouncing back as payrolls soar in June
Rishi Sunak/Picture credit: Yahoo

“I look forward to seeing more people back at work and the economy continuing to rebound,” Rishi Sunak said.

The chancellor expressed that there has been improvement in the UK`s economy with the number of workers on payrolls increasing significantly. In the month of June, the number of workers on payrolls rose by 356,000.

According to data from the Office of National Statistics (ONS), the relaxation of some Covid restrictions might have had a positive impact on employment across the country.

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The chancellor, Sunak, said: “As we approach the final stages of reopening the economy, I look forward to seeing more people back at work and the economy continuing to rebound.

“We are bouncing back – the number of employees on payrolls is at its highest level since last April and the number of people on furlough halved in the three months to May.”

Although the number of employees remained more than 200,000 below the level before the pandemic, there has been an 862,000 surge after a rise of 241,000 between April and June.

The demand for workers is actually increasing in some sectors in the labour market. A number of firms are finding it difficult to get employees to recruit and accoding to figures vacancies are 10% higher than they were in early 2020.

The director of economic statistics development at the ONS, Darren Morgan, said: “The labour market is continuing to recover, with the number of employees on payroll up again strongly in June. However it is still over 200,000 down on pre-pandemic levels, while a large number of workers remain on furlough.

“Our first, more detailed, local figures show that since November last year, when the number of employees reached a low point nationally, the biggest growth was seen in Leicester, while the smallest was in south Hampshire.

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“The number of job vacancies continued to rise very strongly. The biggest sector driving this was hospitality, followed by wholesaling and retailing.

“As the economy gradually reopened, the unemployment rate fell in March to May. This was especially marked for younger people, who had been hardest hit by earlier lockdowns.”

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