ONS | Almost 700,000 jobs lost in five-month period

According to the latest data released by the Office for National Statistics (ONS), the number of workers currently on payrolls fell by a total of 695,000 between the months of March and August – largely due to the financial impact of the coronavirus crisis.

Metro reported that the mass drop in payroll, which represents a 4.1% increase in the rate of unemployment within the UK, correlates with previous expert predictions on the impending damage that COVID-19 could inflict on the jobs market. It’s also the first time that the jobless rate has increased since the pandemic first struck back in March 2020.