Close to 850 UK employers informed the Government of their plans to cut at least 20 jobs in October.
The figures were revealed following a period that saw growing uncertainty surrounding Britain’s short-term economic future as the nation continues to battle coronavirus, and against a backdrop of changing lockdown guidance.
The number recorded in October is larger than any since before the start of the pandemic and around 250% of the level seen at the same time last year.
Roughly translated, just over 50,000 jobs are reported to be at risk.
October proved to be another hugely challenging month for local businesses after positive signs in the period between July and August, which had seen restrictions ease and the level of infections fall.
But the reintroduction of a national lockdown and a rising rate of infection scuppered new-found momentum and has had a major impact for businesses in Calderdale, through West Yorkshire and across the country.
Senior economist Rachel McDonald believes the figures are a reflection of the “worry and concern” being felt by firms, which includes SMEs with a smaller team of staff.
If you are a small business owner, a sole trader or member of partnership then Cooper Accounting can help.
Whether it’s managing cashflow, completing returns or providing practical advice during such a challenging period, we are equipped to help you get moving in the right direction.
Contact us to set up an informal chat.