Picture copyright Getty Photographs
Picture copyright
Getty Photographs
Many individuals have began working from house due to the coronavirus outbreak
UK employment was estimated at a document excessive within the three months to February, earlier than the consequences of the coronavirus lockdown began to hit the economic system.
Official figures confirmed 76.6% of individuals aged 16 to 64 have been in paid work, up from 76.4% within the earlier quarter.
Unemployment was estimated at 4%, barely larger than the earlier quarter, the Workplace for Nationwide Statistics (ONS) mentioned.
Pay in February continued to develop quicker than inflation.
Nevertheless, its fee of development has slowed for the reason that center of final yr. The estimated development for pay excluding bonuses within the three-month interval was 2.9%.
There have been an estimated 33.7 million individuals in employment, 352,000 greater than a yr earlier.
David Freeman, ONS head of labour market statistics, mentioned: “Our last information wholly from earlier than the coronavirus restrictions have been in place, confirmed the labour market was very sturdy within the three months to February.”
- Greater than 140,000 companies declare wage invoice assist
- Wage subsidy scheme prolonged into June
Subsequent month’s figures are anticipated to mirror the fast downturn within the economic system for the reason that coronavirus outbreak.
Yael Selfin, chief economist at KPMG, mentioned: “The most recent figures masks the extent of the rise in unemployment anticipated this yr.
“We estimate that as many as 13 million jobs are in sectors extremely affected by the lockdown, representing 36% of all jobs within the UK, which might see unemployment rising to simply underneath 9% in the course of the lockdown interval.
“A further spike in unemployment after the lockdown additionally appears possible, as soon as authorities assist through the Job Retention Scheme ends.”