UK Unemployment Edges Up To 5.1% On Pandemic Fallout

Sumaira FH Published February 23, 2021 | 01:29 PM

Britain's unemployment rate edged up to 5.1 percent in the final quarter of 2020, official data showed on Tuesday, as coronavirus lockdowns slashed economic activity

London, (APP - UrduPoint / Pakistan Point News - 23rd Feb, 2021 ) :Britain's unemployment rate edged up to 5.1 percent in the final quarter of 2020, official data showed on Tuesday, as coronavirus lockdowns slashed economic activity.

The rate compared with 5.0 percent 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 currently planned -- at the end of April.

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

Details are expected to come in his annual budget next week.

"I know how incredibly tough the past year has been for everyone and every job lost is a personal tragedy," the chancellor of the exchequer said in a statement.

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