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UK unemployment rate rises to 4.5%

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BRITAIN’s unemployment rate has jumped to 4.5 percent as the coronavirus pandemic continues to destroy jobs, official data showed today.

   The reading for the June-August period compared with an unemployment rate of 4.1 percent for May to July, the Office for National Statistic said in a statement.

According to the statement, early estimates for September suggest that there is little change in the number of payroll employees in the UK; up 20,000 compared with August.

“Since the start of the UK pandemic in March, the number of payroll employees has dived by a net 673,000. The latest batch of data show that the labour market has been somewhat weaker than previously thought and that the fallout from the COVID-19 recession is intensifying,” the release states.

Also, Chief UK economist at Capital Economics research group, Paul Dales, notes that the prospects were direct fallouts from the pandemic.

“What’s more, the prospect of the latest Covid-19 restrictions leading to the economic recovery stalling, if not going into reverse, means worse lies ahead,” he said.

It will be recalled that British Prime Minister Boris Johnson yesterday tightened virus control measures as the UK experiences a surge in cases.

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