The rate of job losses announced by employers has fallen sharply, prompting hopes that the rise in unemployment may not prove as steep or long-lasting as has been feared.

Job losses announced in the four weeks to mid-April were 6,962, down from 46,980 in the period to mid-January, according to data from Warwick Business School.

Warwick compiles figures on announcements of large scale job losses for the European Reconstruction Monitor, a network funded by the European Union. Many of the announced job losses will take effect over six to 12 months, so the statistics may indicate the potential for a medium-term recovery in the labour market.

Financial Times