UK unemployment rises faster than anticipated over summer months
UK unemployment rose at a record rate in the three months to August, UK unemployment now sits at double the level seen in March of this year. Much of the summer job losses were from redundancies in sectors most affected by COVID. This comes against the backdrop of data showing more furloughed employees actually returning to work over the same time period. A lot of focus will be on the final quarter of 2020 to see if the chancellors diluted assistance schemes will help stem the unemployment rises.