Picture used for illustrative purpose. File

Gulf Today Report 

Britain’s unemployment rate rose to 5.1 per cent in 2020’s Q4 due to the effect of lockdowns on economic activities, according to official data on Tuesday.

According to analysts forecast, the unemployment rate will surge after the UK government puts an end to its scheme of paying wages of private-sector workers at the end of April. 

READ MORE 

Oil prices climb above $1 as US output struggles

Gold prices climb as dollar, yields ease

Chinese step up focus on food security in its policy document

Finance minister Rishi Sunak on Tuesday hinted at further employment support in the coming months as England begins to exit its third lockdown from early March.

"At the budget next week I will set out the next stage of our plan for jobs and the support we'll provide through the remainder of the pandemic and our recovery,” said the chancellor of exchequer in a statement.

British Prime Minister Boris Johnson on Monday set out a four-step plan to ease coronavirus restrictions, expressing hope that life could get back to normal by the end of June.