UK unemployment rate surges as coronavirus pandemic hits jobs.
Unemployment rate in the UK from May to July was 4.1%
Despite the beginning of easing restrictions, the total unemployment rate in the UK from May to July was 4.1%.
Over the previous three months, which saw the peak of restrictions, this figure was 3.9%, according to the UK Office for National Statistics (ONS)..
In the period from May to July, 32.98 million people aged 16 and over were employed, which is 202 thousand more than a year earlier, but 12 thousand less than in the previous quarter. The annual increase was mainly due to the increase in the number of women working.
Unemployment rate hits 4.1% as 700,000 workers lose their jobs since coronavirus struck in March
However, quarterly data show a different picture. The number of working men increased by 22 thousand, while the same indicator among women decreased by 34 thousand.
The ONS said the small quarterly decline in employment was due to significant declines in the employment of young and older workers (people aged 16-24 and those aged 65 and over), with the number of self-employed and those working part-time. was almost entirely offset by an increase in the employment of workers aged 25 to 64 and full-time workers.
From March to May, UK employment posted the largest quarterly drop in a decade. This was triggered by tough isolation measures that came into effect on March 23 and paralyzed the entire labor market, leaving only a part of shops and pharmacies open.. Some restrictions were eased in May and June. Many stores selling non-vital goods were allowed to reopen.
However, the latest data is unlikely to show the true extent of unemployment due to the actions of the UK government, which subsidized wages in an attempt to stem the decline in jobs.. Authorities pay up to 80% of the monthly wages of workers with salaries of up to £ 2,500, but this scheme is due to end on 31 October.
«This is a difficult time for all of us as the pandemic continues to have a profound impact on jobs and livelihoods.. That’s why protecting jobs and helping people get back to work is still my number one priority.», – said the UK Treasury Secretary Rishi Sunak.