This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/uk/516369-britain-covid19-economy-employment/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| UK unemployment hits 5.1%, the highest in almost 5 years, as young workers bear brunt of Covid-19 restrictions | UK unemployment hits 5.1%, the highest in almost 5 years, as young workers bear brunt of Covid-19 restrictions |
| (7 months later) | |
| Official data released on Tuesday shows that UK unemployment reached a five-year high of 5.1 percent in the last quarter of 2020 as the government introduced its second Covid-19 induced lockdown. | Official data released on Tuesday shows that UK unemployment reached a five-year high of 5.1 percent in the last quarter of 2020 as the government introduced its second Covid-19 induced lockdown. |
| The Office for National Statistics (ONS) said that 1.74 million people were unemployed in the October to December period, an increase of 454,000 from the same quarter in 2019. | The Office for National Statistics (ONS) said that 1.74 million people were unemployed in the October to December period, an increase of 454,000 from the same quarter in 2019. |
| Tuesday’s data also show that 726,000 fewer people are currently employed than there were before the start of the pandemic and that young people have disproportionately borne the brunt of the losses. | Tuesday’s data also show that 726,000 fewer people are currently employed than there were before the start of the pandemic and that young people have disproportionately borne the brunt of the losses. |
| Approximately three-fifths of the job losses have hit those under the age of 25. | Approximately three-fifths of the job losses have hit those under the age of 25. |
| The ONS added that there are “tentative early signs” of the labour market stabilising, with an additional 83,000 people in payrolled employment in January 2021 than December. | The ONS added that there are “tentative early signs” of the labour market stabilising, with an additional 83,000 people in payrolled employment in January 2021 than December. |
| In a statement released on Tuesday, UK Chancellor of the Exchequer Rishi Sunak said he would be setting out the next stage of his plans for jobs in the following week. | In a statement released on Tuesday, UK Chancellor of the Exchequer Rishi Sunak said he would be setting out the next stage of his plans for jobs in the following week. |
| “I know how incredibly tough the past year has been for everyone and every job lost is a personal tragedy… That’s why throughout the crisis, my focus has been on doing everything we can to protect jobs and livelihoods,” the chancellor added. | “I know how incredibly tough the past year has been for everyone and every job lost is a personal tragedy… That’s why throughout the crisis, my focus has been on doing everything we can to protect jobs and livelihoods,” the chancellor added. |
| Despite rising unemployment, the real picture is concealed by the UK’s furlough scheme. Data from early February suggest that as many as 6 million people were currently furloughed. | Despite rising unemployment, the real picture is concealed by the UK’s furlough scheme. Data from early February suggest that as many as 6 million people were currently furloughed. |
| The Bank of England has forecasted that the country’s unemployment rate will peak at 7.8 percent later in the year. | The Bank of England has forecasted that the country’s unemployment rate will peak at 7.8 percent later in the year. |
| On Monday evening, UK Prime Minister Boris Johnson announced plans to reopen the economy from lockdown over the coming months, with restaurants, shops and other hospitality able to partly open from April. | On Monday evening, UK Prime Minister Boris Johnson announced plans to reopen the economy from lockdown over the coming months, with restaurants, shops and other hospitality able to partly open from April. |
| Like this story? Share it with a friend! | Like this story? Share it with a friend! |
| Dear readers and commenters, | |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
| Sorry for the inconvenience, and looking forward to your future comments, | |
| RT Team. |