Posts

Showing posts with the label Unemployment.

News | UK Economy | Unemolyment: Jobless Crisis Shows signs of easing But hitting Hard under 25s.

Image
bbc.com Jobless crisis shows signs of easing but under-25s hit hard BBC News 4-5 minutes image copyright Getty Images The number of workers on company payrolls in the UK climbed by almost 200,000 in the three months to February, amid signs that the jobs market may be stabilising. However, the number on payrolls is still 693,000 lower than last February, before Covid lockdown measures began. It comes amid growing optimism that the vaccine rollout will lead to a faster-than-expected economic recovery. Sam Beckett, head of economic statistics at the Office for National Statistics, told the BBC's Today programme there was still a lot of uncertainty in the jobs market. She added that people aged under 25 continued to bear the brunt of the job losses. "Furlough is still doing a lot of heavy lifting in the labour market. There are around five million people still on furlough, it's dow

News | Europe | Unemployment: Euro zone unemployment rate climbed to 7.4% in May as economies unwound lockdown measures

Image
Silvia Amaro 2minutes - Source: CNBC A protester at the picket line wears a helmet written on no layoffs during a demonstration in Spain. SOPA Images The unemployment rate in the euro zone came in at 7.4% in May, as the region grapples with the economic shock from Covid-19. It comes after a number of European economies took their first steps to reopen in May, which has allowed some workers to return to their jobs. However, the social-distancing measures that remain in place and ongoing travel restrictions are limiting the pace of the recovery. The unemployment rate in the 19-member region rose to 7.4% — the worst reading since November last year. According to the European statistics office, the number means that 12.146 million people in the euro area were unemployed in May. Youth unemployment, those aged between 15 and 24, also increased to 16% in May, from 15.7% in April.  Some economists are expecting much worse unemplo