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Home Business NewsBusiness Biggest rise in redundancies since the financial crisis as Covid-19 hits jobs market

Biggest rise in redundancies since the financial crisis as Covid-19 hits jobs market

by LLB Editor
15th Sep 20 8:48 am

The number of people being laid off has jumped at the fastest pace since the financial crisis, as Covid-19 continues to hurt the UK economy badly.

Figures just released show that 156,000 people were made redundant in the May-July quarter – an increase of 58,000 compared with the same period in 2019.

It’s also an increase of 48,000 compared with February-April, when the Covid-19 crisis began.

This, the Office for National Statistics says, is the biggest jump in over a decade: “These are the largest annual and quarterly increases seen since 2009. While redundancies are at their highest level since September to November 2012, the level remains well below that seen during the 2008 downturn.”

 

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