Redundancies hit record high as job losses surge due to the coronavirus pandemic
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Around 314,000 redundancies were registered during the three months, up by 181,000 from the quarter before, according to the Office for National Statistics (ONS).
The number of UK workers on payrolls dropped slightly last month and has fallen by 782,000 between March and October.
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Hide AdThe ONS figures also showed a big fall in the number of 16 to 24 year olds in employment over the last quarter, with the number decreasing by 174,000 to a record low of 3.52 million.
Earlier this year, Portsmouth’s youth unemployment dramatically increased by more than 200 per cent.
Suren Thiru, the head of economics at the British Chambers of Commerce, said: ‘While there was a rise in the number of job vacancies, this is more likely to reflect a temporary bounce as the economy reopened before recent restrictions were reintroduced, rather than a meaningful upturn in demand for labour.
‘The extension to the furlough scheme will safeguard a significant number of jobs in the near term. However, with firms facing another wave of severely diminished cashflow and revenue and with gaps in Government support persisting, further substantial rises in unemployment remain likely in the coming months.’
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Hide AdThe economist called for more grants for businesses that have been hurt by restrictions, and asked the Government to ensure that it closes gaps in its support schemes, including for unemployed people.