The UK economy has shed 730,000 jobs since the coronavirus pandemic shuttered businesses in March, with the young, the old and the self-employed bearing the brunt of the unemployment crisis.
The Office for National Statistics said Tuesday that there was a record drop in the number of workers over the age of 65 on company payrolls during the April-June quarter, while people under 24 were also hit hard. The overall drop in employment in the quarter was the biggest since the great recession of 2009 and coincided with lockdown measures that shut non-essential stores and restaurants, restricted movement and enforced strict social distancing.
Major UK companies, including British Airways and BP , have culled more than 100,000 jobs and there are fears that layoffs will rise when the government's furlough program comes to an end in October. Many companies in retail and hospitality are fighting for survival.Boris Johnson's dream of a 'Global Britain' is turning into a nightmareDespite the loss of jobs, Britain's unemployment rate remained largely unchanged at 3.
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