Jobs lost as economy hit

BRITAIN’S unemployment rate edged up to 5.1 per cent in the final quarter of 2020, official data showed on Tuesday (23), as coronavirus lockdowns slashed economic activity.

The rate compared with five per cent in the three months to the end of November, which was a 4.5-year high, the Office for National Statistics said in a statement.

Analysts expect unemployment to surge when the UK government’s furlough scheme paying the bulk of wages for millions of private-sector workers comes to a stop – as planned – at the end of April.

Chancellor Rishi Sunak on Tuesday hinted at further employment support in the coming months as England begins to exit its third lockdown form early March.

“I know how incredibly tough the past year has been for everyone and every job lost is a personal tragedy,” Sunak said in a statement.

“That’s why throughout the crisis, my focus has been on doing everything we can to protect jobs and livelihoods.

“At the budget next week I will set out the next stage of our plan for jobs and the support we will provide through the remainder of the pandemic and our recovery.”

The ONS said at 5.1 per cent, the unemployment rate was 1.3 percentage points higher compared with the final quarter of 2019.

The number of payroll employees tumbled by 726,000 between February and January 2021, it said.