Uk unemployment has fallen to 4.5% in the three months to August.
New figures from the Office for National Statistics found unemployment to fall from 4.6%. Payroll figures surged to 29.2 million, which is back to pre-pandemic levels.
Vacancies over the previous quarter hit record highs of 1.2 million. The number of vacancies soared highest in transport and storage.
Commenting on UK unemployment falling to 4.5%, Ian Warwick, who is the managing partner at Deepbridge Capital, said: “Today’s unemployment data shows the resilience of the UK economy as economic stimulus measures taper off.”
“With economic stability and growth still at the forefront of the agenda it is therefore more important than ever that scale-up businesses, particularly in high-growth sectors such as digital technologies and life sciences are supported. They will be at the very heart of economic growth as we create an economy fit for the twenty-first century.”
“Government initiatives such as the Enterprise Investment Scheme have never been more important for helping entrepreneurs and innovators source the funding they require, whilst also offering private investors with tax incentives to develop UK-supporting private equity portfolios. With our EIS funds reaching record levels of funding in 2020/21 it is evident that there is considerable demand from investors and financial advisers alike to invest in early-stage UK companies which we believe will be at the forefront of our economic recovery.”