A new study led by the Department of Social Policy and Intervention (DSPI) at the University of Oxford has found that U.K. households see their income slashed by 17% in the first year after job loss—a far sharper hit than in Nordic or continental countries. This is despite U.K. households working harder than their European counterparts to fill the gap through taking on extra hours or multiple jobs.
UK families lose nearly a fifth of income after job loss
