U.K needs more employees as economy improves

Employment opportunities rise in the U.K near to the pre pandemic era as the economy shows sign of recovery.

According to the Office for National Statistics report , the number of job vacancies in the U.K rose by 290,000 between May and July from the previous three-month period, to 953,000. That’s the highest level since records were started in 2001.

It is the expeditious Covid-19 vaccination and the subsequent lifting of restrictions that restored the hiring and the sectors
such as arts, leisure and food service firms provided more job opportunities.

With the lower unemployment rates and the building wage pressures Bank of England is likely to raise interest rates early and bring an end to a salary support scheme it introduced during the onset of the pandemic , the reports said.

Under the Job Retention Scheme, it is the government that paid 80% of the salaries of the workers who were in a position not able to do their work due to the Covid-19 induced lock down.

The agency also said that the number of people on payroll rose by 182,000 between June and July, taking the total to 28.9 million. Still the overall figure is still 201,000 lower than before the pandemic struck in March 2020.

“Today’s figures show that the recovery continued to gain momentum through the spring as restrictions eased,” said Tony Wilson, director of the Institute for Employment Studies. “Put simply, labor supply just can’t keep up with employer demand.”