1 million lose jobs in a year as firms ‘die’
A MILLION people have lost their jobs in a year after their firms folded.
The losses from business “deaths” are now higher than during the Covid-19 pandemic.
And they have outstripped the number of jobs created through new companies by 1.01 million to 944,000, the Office for National Statistics said.
Shadow Business Secretary Jonathan Reynolds said: “The fact we are seeing record business closures and one million people being pushed out of a job due to the Tory economic crash... is suffocating our nation’s growth and potential.”
Tory ministers argue unemployment is at a near-50-year low. It is now just 3.6%.