Unemployment claims in the U.K. jumped 69% in April, as the COVID-19 pandemic took hold and hit the labor market.
, underscoring the impact the COVID-19 pandemic is having on the economy despite government programs to keep workers on payrolls.
As bad as it was, economists suggested it could have been much worse. The government created a job retention program to prevent millions of people from being laid off by effectively putting them on the government payroll. The government wage support scheme is due to ask employers to share costs from August, so job losses could accelerate if employers decide that their businesses can't survive and give up.
The unemployment rate was at 3.9% in March, the last month for which full labor market statistics are available. Experts predict it will rise toward 10% by the fall.
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