Three graphs show dramatic change in UK labor market as benefits rise record
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The global job market has changed dramatically since the pandemic.
In the UK, the only measure that hasn’t changed much so far is the unemployment rate. For the period from January to March, it increased by 0.1 percentage point to 3.9%, according to data from the National Statistics Office. The British statistician does not report monthly changes in unemployment.
But it measures the monthly variations in the number of beneficiaries, which are more or less the same as unemployment claims. Those who climbed to 2.1 million in April from 1.2 million, a record increase.
The hours worked show which industries were affected. Accommodation and food services claimed the greatest number of victims.
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And the job offers have dried up.