Economics
U.K. Job Cuts Hit a Record High as Sunak Delayed Aid Extension
- Unemployment rises 241,000 in three months through October
- Jobless rate at 4.9%, redundancies increase by 217,000
This article is for subscribers only.
U.K. job cuts jumped to the highest on record in the three months through October, raising more questions over Chancellor of the Exchequer Rishi Sunak’s refusal to extend job support programs until hours before they expired.
Redundancies increased by a record 217,000 in the period, the Office for National Statistics said Tuesday. The number of people on payrolls was 819,000 below pre-pandemic levels in November, with over a third of the fall coming from the hospitality sector.