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Recession increasingly likely in UK: Private sector faces rapid job cuts, fuelling concerns

Britain’s private sector companies shed workers at the fastest pace since the pandemic and the depths of the financial crisis more than a decade ago, adding to the risk of a recession.

What is a richcession ? And will it spare the economy from a full-blown downturn?

While service sector workers were affected by restaurant and retail chain closures at the start of the pandemic, experts say the pendulum might be swinging the other way.

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