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Employment falls by largest amount since 2009

Posted. 11 August 2020

Employment fell by the largest amount in more than a decade between April and June 2020, according to the Office for National Statistics (ONS).

The latest statistics show there were 32.92 million people aged 16 years and over in employment during the period - 220,000 fewer than the quarter before.

This was the largest quarterly decrease since May to July 2009.

The youngest...

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One in three firms plan redundancies

Posted. 10 August 2020

One in three employers in the UK are planning to make redundancies by the end of September 2020, according to a report.

The Chartered Institute of Personnel and Development (CIPD) polled 2,009 employers and found 33% had planned to cut jobs in Q2 2020.

In the private sector, 38% of firms plan to make redundancies, compared to 16% in the public sector.

According to the...

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Govt. sets out first homes scheme details

Posted. 07 August 2020

The Government has released further details on the first homes scheme, which will cut the cost of new homes in England by almost a third.

The scheme is set to give first-time buyers and key workers a 30% discount off the market price of purchasing a new-build home in their local area.

Those eligible for the scheme might be able to save up to £100,000, although price caps of £250,...

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Economic hit ‘less severe than feared’

Posted. 06 August 2020

The UK's economic downturn caused by the COVID-19 pandemic will be less severe than initially feared, according to the Bank of England.

The UK economy looks on course for a 9.5% decline this year, compared with May's forecast of a 14% annual contraction.

This would mark the biggest annual drop in a century, while the Bank said the UK faces a slower economic recovery from the...

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Self-employed view property as safest retirement option

Posted. 05 August 2020

The self-employed see property as the safest way to save for their retirement, according to a report.

Royal London based its analysis on figures from the Office for National Statistics (ONS), which showed attitudes towards retirement savings.

The ONS asked all retirement savers in the UK between April 2018 and March 2020, with 35% citing workplace pensions as the safest method....

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