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War-Driven Costs Trigger 163k UK Jobs, Low-Income Hit

5/11/2026

50 12 Full Breakdown

Summary

Story summary

Projected job losses will hit low-income regions hardest, south Wales and Humber, as the Iran war raises costs.
The Item Club reports the UK will lose 163,000 jobs in 2026 (0.4 % decline), while the Bank of England warns unemployment could rise to 5.6 % from 5.2 %.
Lower-income households in Newcastle, Belfast and Birmingham may spend up to 13 % of income on energy and food, versus under 9 % for a London household.

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Story summary

Projected job losses will hit low-income regions hardest, south Wales and Humber, as the Iran war raises costs.
The Item Club reports the UK will lose 163,000 jobs in 2026 (0.4 % decline), while the Bank of England warns unemployment could rise to 5.6 % from 5.2 %.
Lower-income households in Newcastle, Belfast and Birmingham may spend up to 13 % of income on energy and food, versus under 9 % for a London household.