UK unemployment rate continues to surge
Redundancies rose by a record 181,000 in the quarter to reach a record high of 314,000, the Office for National Statistics (ONS) said.
Firms made more workers redundant in anticipation of the end of the furlough scheme, which was originally supposed to finish at the end of October.
It will now last until 31 March.
The number of people out of work rose by 243,000 in the three-month period, the largest increase since May 2009.
The ONS figures also showed there was a big fall in the number of 16 to 24-year-olds in employment over the last quarter, decreasing by 174,000 to a record low of 3.52 million.
"The pandemic continues to bring turbulence to the UK labour market," said Tej Parikh, chief economist at the Institute of Directors.
"In the autumn, employers faced difficult decisions around retaining staff as government support looked set to decline. The initial shape of the Job Support Scheme, originally expected to come into force this month, didn't provide a smooth off-ramp from furlough.
"The extension of the furlough scheme through to March is welcome as it has given directors certainty to plan ahead for their staff. Unfortunately, the change appears to have come too late in the day for some."
ONS deputy national statistician for economic statistics Jonathan Athow said: "The latest monthly tax numbers show over three quarters of a million fewer employees on the payroll in October than in March.
"Unemployment grew sharply in the three months to September, with many of those who lost their jobs earlier in the pandemic beginning to look for work again. The number of redundancies has also reached a record high.
"Vacancies continued to recover from the very low numbers seen earlier in the year. However, these figures predate the reintroduction of restrictions in many parts of the UK."
November 10, 2020 at 08:29PM
https://www.bbc.co.uk/news/business-54884592
Labels: BBC News
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home