The number of people being made redundant in the UK has increased at the fastest rate since records began as the economic fallout from Covid-19 and the scaling back of the government’s furlough scheme pushes up unemployment.
The number of people being made redundant in the UK almost doubled in the three months to August, according to the Office of National Statistics.
The data shows that the volume of redundancies increased by 114,000 to hit 227,000, as Covid-19 continues to hit the economy.
The latest figures published this week also revealed that an estimated 1.52m people were unemployed during the period – 209,000 more than a year early and a 138,000 jump on the previous quarter.
The rise in unemployment, which now stands at 4.5%, along with redundancies, comes as the government’s furlough scheme is brought to an end, with further job losses anticipated.
Matthew Percival, CBI director for people and skills, said: “These figures are starting to show what everybody knew to be true; that redundancies are on the rise.”
Tej Parikh, chief economist at the Institute of Directors, also expects to see unemployment and redundancies rise further.
“Job losses are likely to keep mounting as this turbulent year draws to a close,” he said.
To help support those of you worried about or have already been made redundant, Agents Together has launched a new Redundancy Bounce Back Series – a month long virtual event.
The series is supported by a number of well-known recruitment experts, including Josh Rayner, Nicola Broomham, Iain White, Russell Humphrey and Andrew Deverell – Smith.
Among some of the other experts providing their guidance and expert insight; Jennifer Scott Reid, head of employee engagement at eprop services, Jacqueline Webb – a partner at Barnard and Webb Solicitors, Lisa Davies – a trainer & Author at Get The Edge, as well as Stuart Perkin, head of people at Boomin.
Agents Together will be combining three principle webinar workshops with a whole host of blogs and learning material in support to help people navigate redundancy and bouncing back to work.
Friday 16th October – Official Launch of the Series – follow their social media channels closely for sign up information. OR you can can sign up to their email updates here.
Wednesday 21st October 1pm – Webinar 1 – How to make your CV and LinkedIn profile stand out from the crowd.
Wednesday 28th October 1pm – Webinar 2 – How to prepare for and win your interview.
Wednesday 4th November 1pm – Expert Panel – A chance to ask the experts anything about redundancy, CV’s, interviewing, and maintaining a healthy mind.
Agents Together is also setting up a dedicated support group on Facebook from early next week, with several experts on hand to answer any important questions around redundancy.
Sarah Edmundson, CEO at Agents Together, said: “All of our founder members and expert panel have also made themselves readily available for special speedy mentoring sessions throughout the month to assist with those who need it.
“As you can imagine, this has taken a huge amount of organising for our small team, and I am eternally grateful to all those who have assisted and offered their precious time.”