UK jobs leap as economy bounces back, pay jumps too

 UK jobs leap as economy bounces back, pay jumps too
  • Tax data: +356k jobs in June vs May
  • Unemployment rate holds at 4.8%
  • Record 7.3% pay rise reflects pandemic distortions
  • Vacancies show record increase in Q2
  • Jobs support scheme being phased out

LONDON, July 15 (Reuters) – The number of employees on British company payrolls surged in June by the most since the start of the coronavirus pandemic, according to data which painted a picture of a roaring jobs market and growing inflationary pressure from rising wages.

A day after a top Bank of England official said the time for the BoE to think about taking action on inflation might be approaching sooner than he had expected, tax data showed a 356,000 leap in employment in June from May.

The increase was driven by 94,000 more accommodation and food jobs, which were hit by lockdowns that have now been largely lifted, and a 72,000 rise in jobs in administration and support services, including temporary staff at recruitment agencies.

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