UK unemployment hits 3-year high in August, as COVID-19 sees nearly 3 million people claim jobless benefits
Companies, agencies, institutions, etc
Insider Inc.
GmbH (Imprint
|
NurPhoto
Getty
the Office of National Statistics
ONS
ETF
Amazon
Pantheon Macroeconomics
Orka Technology
AJ Bell
The Institute for Fiscal Studies
FTSE
Deutsche Bank
unemployment."The Institute for Fiscal Studies
People
NYC |
WIktor
Tom Pickersgill
Laith Khalaf
Groups
British
Physical locations
No matching tags
Places
Personalized Market Center
Locations
England
UK
Britain
London
US
Events
No matching tags
Summary
Although the unemployment rate is not high by historical standards, the picture is clearly deteriorating, according to Laith Khalaf, a financial analyst at AJ Bell."We're beginning to see what the economic wound looks like as the bandage of furlough is gradually removed," Khalaf said. "The new Jobs Support Scheme will help to cushion the blow, but we're likely looking at the thin end of the wedge when it comes to unemployment."The Institute for Fiscal Studies has said COVID-19 would cost the UK £350 billion ($455 billion) in public borrowings this year, a level unseen in peacetime Britain.London's benchmark FTSE 100 index fell 0.4% on Tuesday.
As said here by Shalini Nagarajan