COVID drives redundancies at fastest rate since financial crash

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Redundancies in the UK have risen at their fastest rate since the 2009 financial crisis as the coronavirus pandemic continues to impact the economy.

According to figures from the Office for National Statistics (ONS), 156,000 people were made redundant  in the three months to July – an increase of 48,000 from the three months to the end of May and the biggest quarterly increase since 2009.

With the end of furlough rapidly approaching, there are major concerns that unemployment levels will continue to spike.

ONS said that early indicators from HMRC showed almost 700,000 workers had dropped from company payrolls since the beginning

 link source - East Midlands Business Link General

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