There were glimmers of hope for the UK labour market today with payroll numbers rising and unemployment holding steady at five per cent. The latest figures show 68,000 more people were on payrolls in February, with the rise now 200,000 over the past three months – although the numbers are still down nearly 700,000 since the … Read more
Unemployment has risen again to a five-year high of 5.1 per cent as Rishi Sunak prepares to extend the huge furlough scheme for months more. Official figures showed that in the three months to December the rate went up by 0.1 per cent compared to the equivalent period to November. The increase – hitting younger … Read more
Bank of England boss Andrew Bailey says the UK’s unemployment rate is WORSE than official figures suggest – as he warns the depth of the second wave of coronavirus will delay the economic recovery UK’s jobless toll is officially 4.9% but he believes the true level is around 6.5% Bank governor addressed the Scottish Chambers … Read more
President Donald Trump on Saturday night blamed China for the financial strain being felt by Americans impacted by the coronavirus pandemic, as he refused to sign into law a $900 million coronavirus relief bill. The president repeated calls for stimulus checks to be boosted to $2,000 instead of the $600 promised by the current bill, … Read more
Unemployment spikes to 4.9 per cent as a record 370,000 are made redundant in three months Latest labour market figures show that unemployment rate has hit 4.9 per cent A record 370,000 were made redundant over the three months to October Numbers on payroll have now fallen by 819,000 since start of the pandemic By … Read more
Lord Forsyth warns Government ‘sleepwalking into unemployment crisis’ and risks destroying prospects of a generation of young people Ministers’ efforts to patch up the labour market following months of Covid chaos are falling short of what is needed ‘Time for a New Deal’ urges ministers to invest in job creation, hire more social workers and … Read more
Unemployment will surge to 7.5 per cent, putting 2.6million people out of work, when the furlough scheme ends in the spring, Rishi Sunak was warned today. The Office for Budget Responsibility said that the tens of billions spent on the job retention scheme and billions more spent on business loans and grants had fended off … Read more
Unemployment rate spiked to 4.8% in last quarter – the highest since 2016 – as coronavirus crisis hammered the economy with 782,000 fewer workers on payroll than in March By James Tapsfield, Political Editor For Mailonline Published: 07:13 GMT, 10 November 2020 | Updated: 07:31 GMT, 10 November 2020 Unemployment spiked by 0.7 per cent … Read more
Britain’s economy will shrink by 11% and unemployment will rise to 2.6million amid Boris Johnson’s latest lockdown, bank of England warns Governor Andrew Bailey said the Bank expects the economy to shrink again He said economic output would be 11% lower at end of the year than at the start Added that unemployment would rise … Read more
Covid jobs crisis hits young people and ethnic minorities the hardest: More than one fifth of BAME workers and 19% of 18-24 year olds who were furloughed are now unemployed, report reveals One in five furloughed 18 to 24-year-olds have already been thrown out of work Resolution Foundation says it’s the worst jobs crisis for … Read more