UK jobless claims jump to highest level since 1996

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Jobless claims in the UK has jumped to its highest level since 1996. The Office for National Statistics said the number of claims rose by 69 percent from the previous month to 2.1 million in April. It says the rise would have been steeper if the government did not pay 80 percent of the salaries of workers put on temporary leave by their employers. The Bank of England has warned that Britain could be heading for its sharpest economic slump in more than 300 years.

The U.S. is struggling with a similar situation. The latest figures from the Labor Department released on Friday showed the unemployment rate surging to 14.7 percent last month. It’s the deepest downturn in the world’s biggest economy since the 2008 global financial crisis. As the pandemic continues to undermine the economy, what is the outlook for American jobs and incomes? Click here for more related information https://youtu.be/Zb8ZqohfWfU

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