Showing posts with the label UK Unemployment.

News | Business | UK Unemployment: U.K. unemployment rose in July despite lockdown lifting, with more job losses likely

 Holly Ellyatt 3-4 minutes - Source: CNBC Photographer | Collection | Getty Images LONDON — Unemployment in the U.K. has risen in the three months to July, the latest official data published Tuesday showed, despite this period marking the beginning of looser restrictions.  The headline unemployment rate for May to July stood at 4.1%, up from the 3.9% figure seen in the previous three month period, which covered the start of the U.K.‘s lockdown that began in late March, the U.K.’s Office for National Statistics (ONS) said. Estimates indicated that 32.98 million people aged 16 years and over were in employment between May and July, 202,000 more than a year earlier, but down 12,000 from the previous quarter. The annual increase was mainly driven by more women in employment, the ONS noted. Quarterly figures show a different picture for men and women, however: the number of men employed increased by 22,000, while the number of wom

News | Business | UK Unemployment: Young people hit as unemployment rate rises

 5-7 minutes - Source: BBC Image copyright Getty Images The UK unemployment rate has risen to its highest level for two years, official figures show. The unemployment rate grew to 4.1% in the three months to July, compared with 3.9% previously. Young people were particularly hard hit, with those aged 16 to 24 suffering the biggest drop in employment compared with other age groups. Firms continue to remove staff from payrolls as they prepare for the end of the government's furlough scheme. There were 156,000 fewer young people in employment in the three months to July compared to the previous quarter, according to new data. Some 695,000 UK workers have disappeared from the payrolls of British companies since March, when the coronavirus lockdown began. The government&#

News | Business | UK Unemployment: UK payrolls shrink by 649,000 jobs in lockdown

7-9 minutes - Source: BBC Image copyright Getty Images The number of workers on UK payrolls has fallen by 649,000 between March and June, official figures indicate. The number of people claiming work-related benefits - including the unemployed - was 2.6 million. However, the total was not as big as many feared, because large numbers of firms have put employees on the government-backed furlough scheme. Economists say the full effect on employment will not be felt until the scheme ends in October. Because of the effect of the furlough scheme on the employment market, analysts say the number of hours worked per week is currently a truer reflection of the impact of the coronavirus crisis. The Office for National Statistics (ONS) said that since the start of the pan