Labour Market Update - CNA International

LABOUR MARKET CONTINUES TO DETERIORATE, WITH UNEMPLOYMENT AND REDUNDANCIES RISING SHARPLY!

The latest ONS data covers the period between July and September 2020, providing a snapshot of labour market activity during a period of relaxed restrictions and greater flexibility within the Job Retention Scheme, albeit on progressively less generous terms for business. The impact of COVID-19 on the labour market is now feeding through to headline labour market indicators. This month’s data shows a significant fall in employment for young people, a sharp rise in unemployment and redundancies, with the annual increase in redundancies being the largest since the February to April quarter of 2009.

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