The number of payrolled employees in the UK increased by 0.4% in January, or equivalent to 108,000 persons. Meanwhile, the jobless rate keeps steady at 4.1% and that reaffirms more solid labour market conditions through to year-end in 2021. A small detail that may be overlooked is that output per hour worked in Q4 last year was 2.3% above levels recorded before the pandemic. That might point to some productivity gains but we'll see if the trend keeps up this year.

UK jobs 15-02