Rachel Reeves could oversee Britain losing 163,000 jobs as 'fragile' economy faces employment disaster

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Rachel Reeves could oversee Britain losing 163,000 jobs as 'fragile' economy faces employment disaster.

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Britain could lose 163,000 jobs this year as the economic fallout from the Iran war spreads through the labour market.Economic forecasting group Item Club's latest regional outlook warned UK employment is expected to contract by 0.4 per cent during 2026.The projected decline would represent a significant setback for workers across the country as businesses face mounting pressure from rising costs and weakening consumer demand.It said the downturn was being driven by reduced household spending, surging costs for fuel, energy, materials and ingredients, alongside disruption to global shipping routes linked to the conflict in the Middle East.

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TRENDING Stories Videos Your Say The Bank of England recently warned unemployment could rise to 5.6 per cent this year under its more pessimistic scenario for the economy.That would mark an increase from the current rate of 5.2 per cent.South Wales and the Humber are forecast to experience some of the steepest employment declines because of their...

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