The number of workers on UK company payrolls slumped by a further 1,14,000 in July from June on fallout from the coronavirus pandemic, official data showed Tuesday.
A total 7,30,000 positions have been shed since March, when Britain went into lockdown over COVID-19, the Office for National Statistics said in a statement.
The unemployment rate remained at 3.9 per cent, the ONS added.
The Bank of England last week warned that the rate would soar to around 7.5 per cent 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.
The state has been paying up to 80 per cent of wages for almost 10 million workers under its furlough scheme, who are not classified as unemployed.
UK companies — from major retailers to airlines — are axing thousands of jobs despite government efforts to safeguard employment during the pandemic. — AFP
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