The December unemployment rate rose to 5.1% as the government continued to prevent the sharp increase in the unemployment rate ahead of Christmas.
According to the National Statistical Office, the unemployment rate in the three months through December rose 1.5 percentage points from 5% in November from a year ago, with a significant portion of the economy still hibernating.
Recent figures from HM Revenue & Customs for January showed 726,000 fewer employees in the company’s salary in January compared to February 2020, before the outbreak of the pandemic.
However, even with HMRC’s same assessment, despite the beginning of the third blockade, the company has brought some of its employees back to full-time for two consecutive months.
HMRC revealed that about 83,000 people returned to company salaries compared to December 2020.
While it is believed that the recent increase in salaries is a result of the company’s returning to its employees compliant, millions of workers still have government subsidies, and jobs are messed up.
It is understood that over a million self-employed people are also not working, and many of them do not qualify for state assistance.
According to a report from the London School of Economics last month, 1 in 7 companies employing 2.5 million people could be closed until spring without further assistance from the Treasury.
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Rishi Sunak is expected to expand most of the support provided to workers affected by the epidemic, but will not expand the scope of its benefits to include all self-employed people.
Tej Parikh, chief economist at the Institute of Directors, said: As the epidemic continues, job losses continue to rise.
Strict restrictions throughout the winter season will affect many business reserves, making difficult decisions for employees. Meanwhile, businesses that run out of cash have relied on futile plans to retain their employees, otherwise the unemployment rate will increase considerably.
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