Aug 11, 2020

UK employment falls by biggest amount in over a decade

Employment in the UK fell by the largest amount in over a decade between April and June, official figures show. "A large number of people are estimated to be temporarily away from work, including furloughed workers; approximately 7.5 million in June 2020, with over three million of these being away for three months or more," the ONS said. "New analysis shows that the youngest workers, oldest workers and those in manual or elementary occupations were those most likely to be temporarily away from paid work during the coronavirus pandemic." "Jeremy Thomson-Cook, chief economist at Equals Money, said:"The latest UK unemployment release confirms two things; the true level of those out of work has been very effectively lowered by the government's furlough scheme but, more importantly when thinking about a recovery, the level of employment has continued to fall as those who have lost their jobs through the pandemic have not yet found their next role. "Longer-term government stimulus to create jobs is needed to ensure the gap between the end of the furlough scheme and a rise in employment is not larger than it needs to be."

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