LONDON (Businesshala) – British employers added more workers to their payrolls in October after the government’s job-protecting furlough scheme ended, lingering concerns at the Bank of England about the risks of potentially raising interest rates. reduced.
Sterling rose as data showed the number of employees on the company’s payroll increased from 160,000 to 29.3 million employees last month and the unemployment rate fell more than expected in the third quarter.
As the Bank of England is weighing in on raising interest rates, an estimated 1.1 million people in the final days of how the labor market looks after the plan ends are still paying attention to it.
The Office for National Statistics said it is possible that people who were redundant at the end of the furlough scheme would continue to appear in the data as work for a few more months while they worked their notice period.
“However, the responses to our trade survey suggest that the redundant numbers at the end of September 2021 are likely to be a small proportion of those who are still on leave,” the ONS said.
Separate official data published on Tuesday showed the unemployment rate fell to 4.3% in the three months leading up to September.
Economists polled by Businesshala had expected the unemployment rate to fall from 4.5% to 4.4% in the three months to August.