Mounting job losses are expected as Britain winds down its job retention scheme which protects employees. British finance minister Rishi Sunak said the figures showed the government’s support programmes were working but job losses were inevitable. Pay fell by the most in more than 10 years in the April-June period, down 1.2pc, reflecting how workers on the job retention scheme receive 80pc of their pay. Excluding bonuses, pay fell for the first time since records began in 2001. However, there was a small increase in job vacancies in the three months to July.

Source: Irish Independent August 11, 2020 08:15 UTC