Economics
London Lost Most Jobs in U.K. During the Pandemic, IFS Says
- Think tank doesn’t expect targeted fiscal support in budget
- Capital lost most jobs and saw highest number furloughed
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London lost the biggest number of jobs of any U.K. region during the coronavirus pandemic last year, according to an analysis by the Institute for Fiscal Studies think tank.
The change in the number of employees on payrolls in the capital dropped by about 5.5% from February to December last year, almost twice as many as in Scotland, which had the second-biggest drop. The services-dominated city also had one of the highest shares of jobs furloughed at the end of November, at more than 15% in some boroughs.