Latest unemployment rate figures show rise to 4.5% in June-August, with an updated method bringing this more in-line with what we’ve seen from payroll estimates in recent months. But there are some bits of (relative) good news in the latest lab market stats… (1)
Most recent stats for September show that payrolled employment hasn’t fallen – actually risen by 20,000. That’s still 673,000 less than back in March, but suggests a flattening out as restrictions were loosened. (2)
Hours, pay and vacancies all recovered a little in June to August – showing some recovery as restrictions loosened and people returned to work over the summer. But this improvement wasn’t there for the very hardest hit sectors, like hospitality. (3)
But these figures cover a time when the national furlough scheme was in place and restrictions were being lifted. Things are likely to get worse this winter as we move over to the JSS and have more lockdowns. (4)
The Chancellor has said he can’t protect every job – people becoming unemployed must be able to rely on a properly funded benefits system. That’s why it’s vital the £20 uplift in UC is made permanent and the same lifeline extended to those on legacy benefits #KeepTheLifeline (5)
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