You are here: Home - Household Bills - News -

Unemployment increased in run-up to coronavirus outbreak

0
Written by:
21/04/2020
UK unemployment rose in the three months to February, before the effects of the coronavirus pandemic took hold, figures show.

An estimated 1.36 million people were unemployed during the period, 22,000 more than a year earlier, according to the Office for National Statistics (ONS).

It was the second annual increase in unemployment since May to July 2012 and was driven by a 32,000 increase for men.

The data, published this morning, also showed job vacancies in the UK fell by 52,000 to 795,000 between January and March.

Employment remained at a record high with 76.6% of people aged 16 to 64 in paid work for the December to February period, slightly higher than the 76.4% reported in the previous quarter.

Annual growth in average weekly earnings for employees fell to 2.8% for total pay (including bonuses), and 2.9% regular pay (excluding bonuses).

Pay continues to grow faster than inflation, but its rate of growth has slowed since mid-2019.

David Freeman, head of labour market statistics at the ONS, said: “Our final data wholly from before the coronavirus restrictions were in place showed the labour market was very robust in the three months to February.”

The ONS pointed out that the coronavirus pandemic means that the UK’s labour market is fast-changing.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
140,000 firms apply to furlough scheme on launch day

More than 140,000 firms have applied for the government’s Coronavirus Job Retention Scheme on its first day.

Close