UK unemployment shrinks with 31,000 more people on payroll since June

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Unemployment has shrunk in the UK in June, according to the latest statistics, as the country’s workforce hit a record high number over the past month.

Some 31,000 more people are now on payroll, the Office for National Statistics found, to a record 29.6m.

Economic inactivity rates have also fallen in the months between March and May of this year, the latest Labour Force Survey forecast.

It comes amid a cost of living crisis which is eroding Brits’ spending power at the fastest rate since the 1980s, with inflation hitting a 40-year high of 9.1 per cent.

Onlookers expect inflation to rise, as the UK inches closer to a much-feared recession.

As people brace to shoulder the financial impacts, the UK’s employment rate increased by 0.4 percentage points on the quarter to 75.9 per cent in total. However, this figure remains below pre-pandemic levels.