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ONS | 'This wave of unemployment will subside'

'This wave of unemployment will subside'

Employment figures once again remain bleak following the latest data from the ONS. However, one business leader is confident that this wave of unemployment will eventually subside. James Reed, Chairman of REED, has shared that while he believed a 'tsunami' of job losses were expected due to the current crisis, “with a renewed focus on reskilling and redeploying workers to thriving sectors, this wave of unemployment will subside soon”. Today, the ONS shared that UK job losses rose at a record rate in the three months to August. It stated that the number of redundancies increased by 114,000 on the quarter, marking the biggest jump since figures were first published in 1995. The unemployment rate also increased to 4.5%, up from 4.1% in the previous quarter and 3.9% a year earlier....

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