UK unemployment reaches 5.0 per cent

Gulf Today Report 

Britain’s unemployment rate climbs 5.0 per cent at the end of 2020 due to the implications of coronavirus lockdowns, according to official data.

According to ONS, at 5.0 per cent, the figure is 1.2 percentage points higher than a year earlier.

Rishi Sunak, finance minister said "this crisis has gone on far longer than any of us hoped -- and every job lost as a result is a tragedy."

Analysts forecast an increase in unemployment rate after the UK government’s furlough scheme of putting an end to paying wages of private-sector workers at the end of April. 

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From February, prior to lockdown to December last year, the number of payroll employees divided by 828,000.

The ONS data comes one day after administrators for collapsed UK department store chain Debenhams said it planned to shut all its outlets, costing around 12,000 jobs.

 The lockdown is likely to last till Easter, according to the British Prime Minister.