---
title: "UK High Street Crisis Claims Nearly 170000 Retail Jobs in 2024"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2024-12-30T06:35:58+00:00"
modified: "2024-12-29T23:52:51+00:00"
date: 2024-12-30
canonical: "https://stockmark.it/uk-high-street-crisis-claims-nearly-170000-retail-jobs-in-2024/"
category: "Employment"
categories: ["Employment", "Retail"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/1735219197163_qs0LWj4J.jpg?fit=1024%2C576&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# UK High Street Crisis Claims Nearly 170000 Retail Jobs in 2024

**Published:** December 30, 2024
**Author:** Stockmark.IT Website
**Categories:** Employment, Retail
**Featured image:** ![Shoppers walking down a busy London street with superimposed stock market graph showing upward trend. Hedge fund activity impacting UK retail. from Stockmark.it](https://i0.wp.com/stockmark.it/wp-content/uploads/1735219197163_qs0LWj4J.jpg?fit=1024%2C576&quality=89&ssl=1)

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The British retail sector faced a devastating blow in 2024 as approximately 170,000 shop workers found themselves without employment, marking a troubling 42% increase from the previous year’s figures. The Centre for Retail Research’s data reveals this as the highest annual job loss since the Covid-19 pandemic’s peak in 2020.

Major retail chains’ collapse, including Homebase and The Body Shop, contributed significantly to the sector’s distress. The year witnessed 38 prominent retailers entering administration, including household names such as Lloyds Pharmacy, Carpetright, and Ted Baker, accounting for roughly 55,914 job losses.

The retail sector, representing 8.5% of all UK jobs with 2.87 million roles, has experienced substantial transformation. The British Retail Consortium’s analysis indicates retail vacancies are approximately 30% lower than pre-pandemic levels, despite maintaining a historical average of 2.77 million jobs between 1978 and 2023.

Professor Joshua Bamfield, Centre for Retail Research’s director, characterises 2023’s lower figures as an anomaly, suggesting it was merely a temporary respite following lockdowns. The sector continues to grapple with evolving consumer behaviour, inflation, soaring energy costs, and burdensome business rates.

The outlook for 2025 appears particularly challenging for small high street shops, with impending tax increases announced in the autumn budget. The retail sector faces a projected £2.3 billion bill from increased employer national insurance contributions and threshold adjustments. Professor Bamfield’s concerning forecast suggests potential job losses reaching 202,000 in 2025, potentially surpassing the pandemic’s peak levels.

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**Original URL:** https://stockmark.it/uk-high-street-crisis-claims-nearly-170000-retail-jobs-in-2024/
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