UK sees record surge in employee numbers in May
The number of employees on company payrolls in the U.K. jumped by a record amount in May after lockdown easing and pubs and restaurants resumed indoor service. However, the figures remain more than half a million below their pre-pandemic high.
British businesses increased their number of employees by 197,000 in May, according to the tax data released on Tuesday. The increase came to be the biggest one-month increase since records started in July 2014, bringing the total to 28.5 million.
The employment figures also reflected the fastest headline wage growth since 2007 in the year to April.
The unemployment rate in the U.K. dropped for the fourth month in a row to 4.7% for the three months to April.
The Bank of England forecasted last month that the unemployment rate would only go up slightly when the furlough scheme stops at the end of September 2020 and is keeping a close eye on inflation pressure.