Rolling coverage of the latest economic and financial news
- Breaking: UK redundancies jumped 48,000 in last quarter
- Jobless rate rises to 4.1%
- Nearly 700,000 people off payrolls since March
- More than five million people still furloughed
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
We start with grim news from the UK jobs market. The number of people being laid off has jumped at the fastest pace since the financial crisis, as Covid-19 continues to hurt the UK economy badly.
Redundancies increased by 58,000 on the year, and 48,000 on the quarter, to 156,000.
These are the largest annual and quarterly increases seen since 2009. While redundancies are at their highest level since September to November 2012, the level remains well below that seen during the 2008 downturn.
Over the quarter, there has been a large decrease in the number of young people in employment, while unemployment for young people has increased.
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