"Historically we've looked to the unemployment rate to provide insights on how our economy is fairing. However, the furlough scheme has created a false market and we're now relying on data around factors such as hours worked and the number of jobs available to inform us instead. That said, unemployment rates have risen quite substantially since pre-COVID times and sadly, they will continue increase over the next six months.
"The data also suggests that Brits have given up hope on finding new roles, as the jobless rate remains largely unchanged since June. Of course, this is understandable given that opportunities have been few and far between. But people shouldn't give up hope as job numbers are continuing to pick back up; and our data shows that last week was a record-breaking week for new vacancies being posted on our site. Unfortunately, it's going to be a bit of a waiting game for businesses and job hunters."
