UK sheds 114,000 jobs in July

12 August, 2020 12:00 AM printer

LONDON: The number of workers on UK company payrolls slumped by a further 114,000 in July from June on fallout from the coronavirus pandemic, official data showed Tuesday.

A total 730,000 positions have been shed since March, when Britain went into lockdown over COVID-19, the Office for National Statistics said in a statement, reports AFP.

The unemployment rate remained at 3.9 percent, the ONS added.

The Bank of England last week warned that the rate would soar to around 7.5 percent by the end of the year following the closure of a UK government furlough scheme to subsidise workers’ wages.

“The labour market continues recent trends, with a fall in employment and significantly reduced hours of work as many people are furloughed,” said Jonathan Athow, ONS deputy national statistician for economic statistics.