The UK economy is “bouncing back”, Rishi Sunak, the Chancellor, said today after a raft of positive data from the Office for National Statistics (ONS) signalled a tentative recovery for the labour market.

According to the latest figures, unemployment dipped by 0.2 points to 4.8 per cent in the quarter to May, with an increase in both employment and the number of hours worked.

The number of people on payroll increased by 356,0000 in June compared to the previous month. Encouragingly, there was a sharp increase in both the food and accommodation sectors as restrictions on indoor hospitality were lifted and the Euros packed out pubs.