London hardest hit by job losses


London hardest hit by job losses

Analysis by the Institute for Fiscal Studies (IFS) shows that London suffered the largest number of job losses of any UK region amid the pandemic. The number of London employees on payrolls dropped 5.5% between February and December 2020, almost double the figure recorded in Scotland, which saw the second-highest number of job losses. The IFS said the coronavirus crisis has affected the jobs market across the UK, with every region recording an increase in losses over 2020. Northern Ireland was the least-affected region, with losses of almost 1.5%. The think-tank has warned that job losses are set to increase as the furlough scheme comes to an end. It notes that 8% of the UK workforce was still on furlough in December, with the rate in London higher, at 10%.


Read more: City AM

 

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