HomePoliticsConservative PartyUnemployment Rates Continue To Rise Due To Coronavirus Outbreak

Unemployment Rates Continue To Rise Due To Coronavirus Outbreak

Over about 2, 1 million people in the UK have now applied to claim for an unemployment benefit, this comes after a full month of lockdown measures having been enforced since the coronavirus outbreak.

The unemployment rates have risen substantially within the first quarter of the year, analysts say. Over about 2, 1 million people in the UK have now applied to claim for an unemployment benefit, this comes after a full month of lockdown measures having been enforced since the coronavirus outbreak.

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As Chancellor Rishi Sunak announced last week that the economy has taken a significant dip due to the coronavirus outbreak having forced the job market into a temporary halt, this has since caused an exponential growth in the number of individuals and businesses applying for the job retention scheme, universal credit and other forms of governmental assistance.

An additional 856,500 people have since applied for the claim after the month of April, due to economic inactivity. The ONS reported that during the first quarter of the year “the UK employment rate was estimated at a joint record high of 76.6%, 0.6 percentage points higher than a year earlier and 0.2 percentage points up on the previous quarter”.

These numbers have since dropped significantly, as the most recent unemployment rates highlight almost a quarter in job losses when compared to previous statistics. According to the ONS this number is expected to increase significantly.

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Among the most affected are young people between the ages of 16 to 24, and the elderly, individuals who have been placed on furlough are exempt from this. Analysts expect the unemployment rates to continue to rise as long as the lockdown restrictions continue to limit the job market and overall economic activity.

Alice Campbell for SurgeZirc UK
Alice Campbell for SurgeZirc UK
Alice Campbell is a highly skilled and experienced royal writer, currently working with SurgeZirc UK. With a passion for journalism and a keen interest in the royal family, Alice has established herself as a prominent figure in the field.
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