Press releases

Deloitte's senior economist comments on today's labour market figures

15 September 2020

Commenting on the latest labour market figures from the ONS, Debapratim De, senior economist at Deloitte, said:

“The furlough scheme has been very effective in cushioning the blow from the pandemic to the labour market. But cracks are beginning to show, with unemployment rising – particularly among younger workers - and redundancies hitting their highest level in almost eight years.

“Although growth has bounced back in the third quarter, the recovery is likely to be slow and uneven, with a sharp rise in unemployment almost unavoidable once the furlough scheme ends.”

End

Notes to editors

About Deloitte
In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.

Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.

The information contained in this press release is correct at the time of going to press.

For more information, please visit www.deloitte.co.uk

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