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The UK is expected to confirm a deep recession today following the loss of nearly three quarters of a million jobs.
From the months of April to June new data shows the economy has plummeted by 21% – making it the second quarterly decline in a row.
The continuous decline is classed as a recession, which is the first since 2008.
According to The Sun, the Office for National Statistics will confirm the decline which is said to be the worst in Western Europe.
The announcement will come as it was reported 730,000 jobs have been lost.
British Prime Minister, Boris Johnson, has warned of "bumpy months ahead" after urging people to go back to work.
He said: “We always knew that this was going to be a very tough time. We want to see a return to economic vitality and health.”
This comes ahead of the furlough scheme due to end in October – business chiefs are urging an extension of the scheme which has preserved the jobs of millions.
Explaining the employment toll, Jonathan Athow of the ONS said: “There has been a rise in people without a job and not looking for one, though wanting to work.
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“In addition, there are still a large number of people who say they are working no hours and getting zero pay."
Last week Boris Johnson urged people to go back to their workplaces in order to help the economic recovery.
During a visit to a housing development in Warrington, the Prime Minister told reporters there were "real signs of strength in the UK economy" but expressed the need for people to return to workplaces still shattered by the coronavirus.
"Unquestionably it will require people to have the confidence to go back to work in a Covid-secure way," he said.
- In the News
- Boris Johnson
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