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