UK retailers cut jobs in the third quarter at the fastest rate since 2008

The British Retail Consortium (BRC) said today that its members cut jobs over the past three months at the fastest rate since 2008 due to technological changes and rising employment costs.

Employment dropped by 3.0 percent year-on-year in the third quarter of this year and total hours worked fell by 4.2 percent year-on-year.

The job losses in the retail sector is bad news as it accounts for just under 10 percent of jobs in Britain.