Britain's unemployment is growing 'faster than the Great Depression'

LONDON (AP) - The number of people in the UK and New York has risen 23.3% since May, according to official figures released Tuesday, the biggest drop in the labor market.

According to the Office for National Statistics, the so-called number of competitors who are both unemployed and actually unemployed in less than a month of lockdown restrictions...

Between March and May, the number of people on payroll decreased by 2.1% or 612,000, according to the statistics agency.

Tony Wilson, director of the Institute of Employment Studies, said: "Today's statistics suggest that if the public health crisis has not yet subsided, the unemployment crisis is just beginning."

Wilson said unemployment is rising faster than it was during the Great Depression of the 1930s, reaching 3 million this summer.

The real spike in unemployment is so high that, if it were not for the British government's job retention scheme, it would be paying a large part of the salaries of over 9 million.

As a result of this scheme most companies are prevented from cutting their jobs during lockdowns, under which the government pays 80% of the workers' salary, up to 500 2,500 ($ 3,150) a month.

The Treasury chief, Sage Craze, said that from August, the companies would have to start paying for the salaries of hired employees, but would not work, and the plan would stop two months later.

Britain expressed concern over the official unemployment rate, which rose to 3.9% in April. Government figures released Tuesday show that 9.1 million jobs were terminated by 1.1 million employers under the scheme, which cost the government £ 20.8 billion ($ 26 billion).

Some of those burned workers returned to their jobs on Monday as a result of the reopening of the Garsen stores in England for the first time in nearly three months.

With so many firms likely to collapse as a result of the lockdown, it became clear that not everyone could get their jobs back. Last week's figures showed a 20% decline in the British economy in April alone.

Unions and employers want more support from the government. The craze is likely to announce a major economic stimulus in the coming weeks.

"Unemployment is unequal across society and leaves the previous generation behind," said Matthew Percival, director of people and skills at the Confederation of British Industry.

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