U.K. Jobless Expected to Rise to 4.5 Million, Sunday Times Says

(Bloomberg) -- U.K. cabinet ministers expect the number of unemployed people to rise to 4.5 million over the next year, the highest number since records were started, Sunday Times reported.

  • The ministers will present their projections to Prime Minister Boris Johnson, the newspaper said
  • One in three companies is expected to lay off staff because of the coronavirus pandemic, the newspaper cited a Chartered Management Institute survey as showing
  • About 34% of managers plan to dismiss employees, while 26% expect they will have to cut people this year, according to the survey
  • NOTE: Three Million Jobs Idled in Virus-Hit U.K. Retail, Hospitality

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