Nov 10, 2020

UK unemployment rate continues to surge

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. "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.".

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