NEWS: UK Unemployment Rate Rises To 4.5%

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Britain’s unemployment rate has jumped to 4.5 percent as the coronavirus pandemic continues to destroy jobs, official data showed on Tuesday.

The reading for the June-August period compared with an unemployment rate of 4.1 percent for May to July, the Office for National Statistic said in a statement.

Early estimates for September meanwhile “suggest that there is little change in the number of payroll employees in the UK; up 20,000 compared with August”, the ONS said.

Since the start of the UK pandemic in March, the number of payroll employees has dived by a net 673,000.

“The latest batch of data show that the labour market has been somewhat weaker than previously thought and that the fallout from the Covid-19 recession is intensifying,” noted Paul Dales, chief UK economist at Capital Economics research group.

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