INDEX	Tuesday February 23, 2021
This is what a slump looks like: unemployment
Source ONS,
The number of adults out of work increased to 5.1% of the workforce in the quarter October-December, 2020, according to the Office for National Statistics. This represents 1.74 million people. UK unemployment is likely to reach 2.6 million in the middle of 2021, according to the government's economic watchdog, the Office for Budget Responsibility (OBR). That is 7.5% of the working-age population, the sort of figure seen in the depths of the Great Recession precipiated by the subprime mortgage crisis. https://www.bbc.co.uk/news/business-52660591 See also Fastest contraction since 1929.
Posted by Jonathan Brind.
INDEX
Tuesday Febuary 23, 2021