Home / Market Update / UK Sees Largest Quarterly Fall in Employment in 11 Years

UK Sees Largest Quarterly Fall in Employment in 11 Years

The number of people in employment in the United Kingdom (UK) registered 32.92 million during the second quarter (Q2) of 2020, according to estimates by the British Office for National Statistics.

This marked an increase of 113,000 people on an annual basis, but a decline of 220,000 on a quarterly basis, the highest since the three months to July 2009.

Recent data showed that the number of people receiving unemployment benefits reached 2.7 million in July, growing by a staggering 116.8% since March, due to the COVID-19 crisis.

Check Also

Japanese Yen Slides Toward 40-Year Lows as Markets Doubt Immediate Government Action

The Japanese Yen came under renewed selling pressure at the start of the week, pushing …