ONS latest | UK unemployment falls but MASSIVE number of redundancies predicted

According to the latest report from the Office for National Statistics, unemployment within the UK fell in the month of October, despite close proximity to the conclusion of the Government’s furlough scheme.

The data found that the unemployment rate fell to 4.2% in the three months to the end of October, representing about 1.4 million people, down from 4.3% in the three months to the end of September.

In addition, the number of workers on company payrolls rose by 257,000 in November from a month earlier to stand at 29.4 million – almost half a million higher than pre-COVID levels.

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Whilst the key impetus for the rise in payrolled staff is perceived by the ONS to be the current candidate-driven employment market, in which many industries are seeing acute shortages of skilled workers, other analysts predict that this number may well fall as data assesses the month of December, as staff work through their notice periods.