Economics

U.K. Job Cuts Jump Most on Record With More Pain on the Way

Employment drops by five times economist predictions, ONS says
Figures affected by revisions after collection changes

WATCH: Centre for Economics & Business Research Senior Economist Josie Dent discusses the challenges facing the U.K. economy.(Source: Bloomberg)

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By Andrew Atkinson and David Goodman

October 13, 2020 at 2:19 AM EDT

Updated on

October 13, 2020 at 3:38 AM EDT

This article is for subscribers only.

U.K. job cuts jumped the most on record in the three months through August even as lockdown eased, raising concern that the worst is yet to come.

The number of redundancies climbed 114,000 in the June-August period, the most since 1995, the Office for National Statistics said Tuesday. That left the total at 227,000, a rate of more than 8 per 1,000 employees.