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UK unemployment rate jumps to 5.1%

Video Credit: PA - Press Association STUDIO - Duration: 01:09s - Published
UK unemployment rate jumps to 5.1%

UK unemployment rate jumps to 5.1%

New figures from the Office for National Statistics show that Covid-19 continues to damage the UK economy.

The number of workers on UK payrolls has fallen by nearly 730,000 since the start of the pandemic and the jobless rate has surged to its highest level since 2016.


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Office for National Statistics United Kingdom's principal government institution in charge of statistics and census data

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Anneliese Dodds has called on Chancellor Rishi Sunak to "act now" and learn from his past mistakes after the Office for National Statistics reported the UK's economy shrunk faster than at any point in 100 years in 2020. The Shadow Chancellor criticised Mr Sunak for taking "far too long" over extending the furlough scheme. "Leaving his policy around furlough until five hours before that scheme was due to end" she said; "We can't have that again". Ms Dodds said the Chancellor needs to extend the business rates holiday and VAT reduction. "He also needs to commit to a smarter furlough scheme" she added; "one that will be in place while we have those restrictions on economic activity". The Shadow Chancellor also said Mr Sunak "has to do far more to create new jobs". Report by Thomasl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 00:59Published
Pandemic causes UK economy to suffer record annual slump [Video]

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The UK's economy shrunk faster than at any point in 100 years in 2020, as gross domestic product (GDP) dropped by 9.9%, according to new data from the Office for National Statistics. "Today's figures show last year our economy experienced a significant shock" said Chancellor Rishi Sunak. He added that despite "some signs of resilience over winter, what's clear is right now many families and businesses are experiencing hardship". The Chancellor said he will set out the "next stage" of his "economic response" at the budget in early March. Report by Thomasl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 00:27Published

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The Election Commission announces poll dates for five states/UT. The Ministry of Home Affairs extends COVID-19 guidelines till March 31. Prime Minister Modi says the centre will continue with its reform process during his virtual address on aspects relating to financial services in this year’s budget. GDP grows 0.4% after two quarterly declines. But the experts say that the recent resurgence in Covid19 cases raises concern. The Petroleum Minister says the fuel price will decrease by the end of winter. All this and more news at 9 pm. #FuelPriceHike #StateElections #Covid19

Credit: Oneindia    Duration: 02:49Published

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