Economy

UK employment in steepest fall for over 10 years

UK employment suffered its biggest quarterly decrease in over a decade as the impact of the pandemic continues to be felt by businesses and workers.

Between April and June the number of those employed fell by 220,000 which represents the biggest quarterly decrease since May to July 2009.

Numbers are now indicating for that as at July, the number of workers on UK payrolls has fallen by 730,000 in comparison to March 2020.

With approximately 7.5m workers classified as being temporarily away from work, fears are mounting that unemployment number in the UK will accelerate rapidly as the furlough scheme continues to be wound up.

One positive from the Office for National Statistics was that vacancies were trending 10% higher between May to July 2020, recorded at an estimated 370,000.

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