Soaring UK job losses show furlough extension may have come too late

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Rishi Sunak’s response to Covid was not enough to halt a record rise in redundancies

Record redundancies, rising unemployment and fewer job opportunities. Even before the second Covid wave forced the launch of lockdown 2.0, workers were feeling the pinch.

In the three months to September, the latest official figures show redundancies soared to 314,000, outstripping the damage done by the 2008 financial crisis in speed and severity. Unemployment jumped to 4.8%, the highest in four years.

Related: UK unemployment rate jumps to 4.8% as redundancies hit record high – business live

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