UK redundancies hit record high as job market slumps in third quarter

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British employers laid off a record number of staff in the third quarter and the jobless rate jumped as the labour market weakened before finance minister Rishi Sunak made a U-turn on COVID support measures.

FILE PHOTO: A woman wears a face mask as she walks past a mural on a closed shop following the outbreak of the coronavirus disease in Manchester, Britain, October 11, 2020. REUTERS/Phil Noble

While the public and investors were cheered on Monday by news that an experimental COVID-19 vaccine was more than 90% effective in trials, the ONS data showed hard months lie ahead for many Britons. The BoE expects around 5.5 million employees will need furlough support during an England-wide lockdown this month, up from just over 2 million in October.

 

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Still well below the predicted 7.5% rate of unemployment by the Bank of England.

Work for Love/God not the system.

Sunak was warned from the start that his myopic finageling of the furlough scheme and then short dating its reintroduction would cost middle class jobs and homes by Christmas. What he's failed to realise is that without proper support the rest of the economy could go with them

This is not the worst time yet.

And the USA recorded +31% gdp last week 😂 they have recovered nearly learnt to live with it yet trunongets hammered and boris gets a 'well its a pandemic anything can happen' brainwashing.

wow

Caused by lockdowns (avoidable)

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