UK Layoff Notices Surge to Near Three-Year High After Budget

More British workers face losing their job than at any point in almost three years, a post-budget deterioration in the labor market that is likely to set off alarm bells at the Bank of England.

The number of potential redundancies — a leading indicator of future job cuts — jumped to 33,392 in the four weeks ending Dec. 14, according to Insolvency Service data. It was the most since early 2023 and the second-highest level in the post-pandemic period.