The outbreak of the coronavirus has hit the job market in the UK hard. The number of unemployed is increasing day by day in the country. In the three months from September to November, the unemployment rate rose from 4.9 percent to 5 percent. The highest in the last five years, according to the BBC.
According to the country's National Statistics Office, about 1.62 million people are now unemployed. This number is 4 lakh 17 thousand more than the same period last year. This is the highest increase in the number of unemployed since 2009.
Employees of manufacturing and service sectors have suffered the most. More than 50,000 people have lost their jobs in the two sectors compared to last year.
ONS deputy chief executive Sam Beckett told the BBC that the unemployment rate in the UK had never risen so much since the global economic crisis. He added, "Since the onset of the Corona epidemic, the number of salaried workers has decreased by 627,000." However, the employment situation in the country is still much better than other countries.
But the number of job losses is much higher among 18- to 24-year-olds. '
Sam Beckett added that there are currently 4.5 million people on temporary leave, for whom the government has announced a scheme (Farlow Project). Because of them, the labor market situation is a bit complicated now. This number is 14.2 per thousand. And considering the age, this rate is highest among 25 to 34 year olds. However, 61,000 new jobs have been created in those three months.
Rishi Sunak, the UK's finance minister, said: "This crisis is more protracted than we expected. Losing every job is a tragedy. However, the NHS (National Health Service) wants to protect people from covid by vaccinating them. 'He added,' Our plan is to provide job grants and loans so that organizations can employ workers. In this case, the government's Farlo project will help.
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