Britain’s jobless rate has soared to its highest level for more than four years as official figures showed nearly 830,000 workers have been dropped from 海角视频 payrolls since the start of the pandemic.
The Office for National Statistics (ONS) revealed the unemployment rate reached 5% for the 海角视频 as a whole in the three months to November for the first time since early 2016 after another 202,000 people lost their jobs. In Wales the rate was below the 海角视频 average at 4.6%.
All parts of the 海角视频 saw a decrease in workforce jobs compared with last year.
In Wales there was a decrease in 17,721 workforce jobs in September 2020 compared to 2019.
Wales continues to have a higher economic inactivity level than the 海角视频 as a whole at 24%, compared to 20.7%.
However, Wales was the only region or nation in the 海角视频 that had seen a rise in employment between June and September 2020, with an increase of 11,000. The rest of the 海角视频 saw a decrease in employment figures, the largest was in London at 98,000.
Figures for December also showed there were 828,000 fewer Britons on company payrolls since before the crisis struck last February as the pandemic has hammered the jobs market.
Experts warned that there would be further pain to come after the latest lockdown rips through the labour market.
Most Read
ONS head of economic statistics Sam Beckett said: “In the three months to November, on our survey data, the employment rate fell sharply again, while the unemployment rate rose to hit 5% for the first time in over four years.
“The number of people saying they had been made redundant in the previous three months remains at a record high.
“Meanwhile, vacancies, which were rising in summer and early autumn, have been falling in the last couple of months.”
Paid Cymru’s Shadow Minister for the Economy, Helen Mary Jones MS said: “An increase in unemployment figures while there is a furlough scheme in place is worrying, as the scheme surely masks the true picture.
“We mustn’t get complacent – the current devolution settlement cannot cope with the economic impact of Covid-19, and there is action that can be taken now to negotiate further powers. The Labour Welsh government’s reluctance to do so is incomprehensible.”
The gloomy unemployment figures come despite signs that the 海角视频 Government’s move to extend the furlough scheme to April has helped cushion the blow.
The number of payroll employees nudged up by 0.2% between November and December, with employment also falling at its slowest pace since March, down 88,000 at 32.5 million.
Don’t miss
But there was little cheer in the data as the claimant count, which includes people working with low income and hours as well as people who are not working, edged up by 0.3% in December to 2.6m.
The redundancy rate hit another record high, up 168,000 between September and November to 395,000, though it dropped slightly from a peak in September.
The early recovery in vacancies seen in the summer also slowed, with around 81,000 between October and December at 578,000 - half the level of growth in the previous three months.
Business leaders reiterated calls to Chancellor Rishi Sunak to extend support measures further to help sectors on life support during the lockdown, such as the hospitality industry and high street.
Sign up to the BusinessLive Wales newsletter and follow us on LinkedIn
As well as an in-depth early morning newsletter, we will be sending out regular breaking news email alerts. To sign up to this service
And, follow us on to catch the latest stories and to network with the Welsh business community.
On Monday alone, more than a further 20,000 retail jobs were put at risk after online retailer Boohoo announced a deal to buy the Debenhams brand and rival Asos said it was poised to buy Topshop.
Tej Parikh, chief economist at the Institute of Directors, said: “It is now crucial that the Job Retention Scheme and other Covid-19 economic support is extended beyond the spring to support employment as restrictions continue.
“The latest lockdown will have only added further pressure on firms with troubled balance sheets, which means more jobs are likely to be lost in the coming months.”
Matthew Percival, director of people and skills at the CBI business group, said the Chancellor must “act now”.
“The Job Retention Scheme needs to run to at least the end of June to avoid a cliff-edge,” he said.
Employment Minister Mims Davies said: “Whilst there is light at the end of the tunnel with jabs already in the arms of millions and the vaccine rollout gathering pace, our Plan for Jobs is helping to protect and support livelihoods, as well as create new opportunities for those who need them.”