UK jobless rate rises to 5.1% for first time since 2016 – business live


Rolling coverage of the latest economic and financial news

  • UK jobless rate highest in almost five years
  • But payrolls have risen in last two months, after tumbling

7.30am GMT

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
Britain’s unemployment rate has risen to its highest level since early 2016, as the Covid-19 pandemic continues to hit the labour market – particularly younger workers.

But, there are also signs that the jobs market is stabilising, with a small increase in the number of payrolled employees in December and January, and a pick-up in vacancies.

#Breaking The number of UK workers on payrolls increased by 83,000 last month but has fallen by 726,000 since February 2020 due to the impact of the pandemic, according to the Office for National Statistics (ONS)

There were 28.3 million employees paid through payroll in January, up 83,000 on December.

However, this was still 726,000 fewer than in February 2020, before the pandemic started to affect the jobs market

New analysis by age band shows that the 18 to 24 years age group has seen the greatest decrease in payrolled employees since February 2020.

Our latest labour market statistics have been published for October to December 2020

Continue reading…


Please enter your comment!
Please enter your name here