UK employment rose in 3rd quarter

Increasing numbers of people in the U.K. found work in the months between July and September, the Office for National Statistics announced Tuesday.

The employment rate rose from 75.1 percent to 75.4 percent in the third quarter, driven by a record high net flow of jobless people finding work. The U.K.’s unemployment rate dropped from 4.7 percent to 4.3 percent over the three months.

The figures don’t take into account the increase of redundancies that could come from the end of the furlough scheme on September 30. But those figures are expected to be small, the ONS said, after conducting a business survey.

“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,” said Sam Beckett, ONS’ head of economic statistics, in a statement.

Having said that, “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,” she added. “In addition, vacancies again reached a new record high.”

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