Major companies in the UK now have more than 75,000 job cuts, and more partial downtime and social distance are expected in the summer months. Smaller companies are also shrinking, adding a total of hundreds of thousands of job losses.
The British government’s data so far has not attracted hundreds of thousands of jobs that could likely be cut in April.
The UK unemployment rate remained below 4% in March, official figures show. But weather indicators that include April give the impression of an impending job crisis. The number of workers on the company’s payrolls fell by more than 450,000 between March and April, government figures show.
The worst is almost certain to come.
Approximately 8.7 million workers in the UK are registered as part of a program in which the government covers 80% of their salaries. But with support cut off from August to the end of the program in October, and if companies face falling demand, companies may struggle to find work for many employees who laugh when they return.
“Business leaders know that government support can’t be endless, but it’s an ugly truth that if money doesn’t come in the door, many companies will be forced to make tough decisions by August,” Jonathan Geldart, director general of the Institute of Directors, said late last month. .
Andrew Wishart, an economist from the UK, Capital Economics, wrote last month that he expects the unemployment rate to rise to 9% in the coming months. “Most of that jump should be reversed quickly once the labor blockade is lifted, but we still expect the unemployment rate to remain elevated over the next few years,” he said.
Subtly charming zombie buff. Amateur analyst. Proud tvaholic. Beer fanatic. Web expert. Evil troublemaker. Passionate internet maven. Gamer. Food evangelist.