The UK unemployment rate has risen to 4.8%, while the coronavirus continues to affect the labour market. The Office for National Statistics (ONS) said the number of redundancies rose to a record 314,000 over the same period.
The aid programme, which was originally due to expire at the end of October, has now been extended until the end of March. Analysts say the extension is too late to save jobs and that another sharp rise in unemployment is expected in the coming months. Companies are also laying off more workers because of the aid, with companies worried about the impact on their earnings, while companies are under pressure from the coronavirus.
The number of people out of work rose by 243,000 in the first half of the year, the Office for National Statistics (ONS) said. How many were affected, which age group was most affected and how many are affected?
The unemployment rate among young people is far higher than the overall rate, the ONS figures show. How many people could be unemployed: there are many redundancies, including people who may have lost their jobs but then retire or are not looking for work.
The unemployment rate among young people is far higher than the overall rate, at 7.5 per cent for 18-24-year-olds, according to ONS figures.
The general rise in unemployment has now led to an increase in the unemployment rate among young people from 7.5 percent to 8.3 percent. We are seeing a continued slowdown in employment growth and a fall in wages for young workers, “he told the BBC.
In Britain, people are starting to become unemployed in fairly large numbers, “he said. There are about 2.5 million people who are refugees, so if it happened to all of us, it would cause serious problems for the economy.
He added: “We could see a huge rise and that might mean we don’t see any more big increases in redundancies or unemployment, but it’s too early to say what will happen. The number of vacancies continues to recover from the very low figures at the beginning of the year. The figures are in line with estimates from the Office for National Statistics (ONS) and the Department for Work and Pensions (DWP).
How to improve your chances of finding work: “If you keep getting rejection emails, ask them why,” he said.
Ask a recruiter or someone in your industry if job applications and interviews are things you can improve on. Not everyone gives you feedback, but it’s important to find out what works, what doesn’t and how you can sell better.
The pandemic continues to bring turbulence to the UK labour market, “said David Smith, chief executive of the National Association of Independent Businesses (NAB). The extension of the maturities beyond March is to be welcomed, as it gives directors planning certainty for their employees.
The expansion program will secure a significant number of jobs in the short term, but a further significant increase in unemployment remains likely, as companies face a wave of sharply reduced cash flows and a revenue shortfall in government support continues. While the number of vacancies has increased, this reflects the reopening of the economy after the recent restrictions were reinstated, “said David Smith, chief executive of the National Association of Independent Business (NAB).
Given the extent of the economic shock, we feel that the impact of this pandemic on the official unemployment rate remains low. The 4.8% figure, which affects 1.62 million people, is historically low, but how bad is that compared to previous downturns?
Given that we are currently in a double-dip economic period, the idea that unemployment will peak at 7.8% seems modest. The number of unemployed will fall sharply, but not significantly, and certainly not directly.
After informing scientists of the danger of a second wave, Chancellor Rishi Sunak told the nation for four months that he was in favor of extending the program until October. He cannot save businesses and he cannot save jobs, but he is right about one thing:
Indeed, just hours before the end of the referendum campaign, the Chancellor changed his mind, saying it was fundamentally wrong to keep people out of jobs that only exist in cities. I and many others were glad that the government did a U-turn, but there is no doubt that a large proportion of those laid off are still out of work because their employers knew that the government would reverse its policy at the last minute.
Rishi Sunak, the chancellor, said: “These figures underline the scale of the challenges facing the country. The political reaction was one of anger and disappointment, but also frustration at inaction.
The government has launched a $2 billion Kickstart program to help young people and expanded job protection programs. He added: “I would like to reassure those who are concerned about the coming winter months that we will continue to support those affected and protect the lives and livelihoods of people across the country. I know it is a difficult time for those who have unfortunately already lost their jobs, but I add that I have a responsibility to act in the best interests of the people of this country, not only for political gain but also for the benefit of our economy, “he added. John Reynolds, Labour’s shadow work and pensions secretary, said: “Some people are losing their livelihoods because the Government has failed to tackle the scale of our employment crisis in time.
The Chancellor urgently needs to help those who have lost their jobs and get Britain back to work, including a green recovery that helps create hundreds of thousands of low-carbon jobs.