Accelerating UK redundancies ‘big concern’ for economy, experts warn

JACK BARNETT

ACCELERATING redundancies sparked by businesses sweating over whether the UK economy is on course for a recession are a “big concern” for the country, experts have warned today. Company layoffs have pushed the volume of unemployed workers available for jobs to its highest level since December 2020, when the UK was in the teeth of tough Covid-19 restrictions, according to research from the Recruitment and Employment Confederation and consultancy KPMG.

The pair’s candidate availability index climbed to 57.6 points in June, up from 55.6 in May, hoisted upwards by an increase in idled permanent and part-time staff.

“The sharp upturn in candidate availability this month – the highest for two and a half years – is a big concern for the economy reflecting the effects of a sustained slowdown in recruitment along with increasing redundancies across many sectors,” Claire Warnes, partner, skills and productivity at KPMG UK, said.