E UK Unemployment Rises As More Lay-Offs Are Announced

The increased unemployment rate is one of the most concerning matters in the United Kingdom today. COVID-19 had a huge impact on employees all over the world and British workers are among those who still try to recover but without any real hope. The number of redundancies in the UK rises quickly as a result of the economic fallout from the pandemic and the government’s action plans support and drive up this growing number. Despite the attempts, it seems like the situation is not gonna change, and recently a Freedom of Information request by BBC revealed that the employers of the UK plan almost 500 000 redundancies. 

It’s hard to expect a solution while taking current news into account. As Financial Times reported, job redundancies jump by 114 000, and the number of out-of-work benefits rises to about 3 million. UK job losses rise fast, setting a new record in the last three months and as the experts believe, the worst is yet to come. Unemployment is going up and less and fewer people are taking part in the labor market which poses a huge threat to the UK economy. 

According to the Guardian, the number of such redundancies is the biggest jump since 1995. The unemployment rate has increased by 5% and as a result, self-employment rates rose. Considering the fact that things are unlikely to improve shortly and the renewed business rapidly closes down, at the end of the year the rates will be even higher, meaning that people have to find some alternative solutions to survive. And many of them already tried something different from the usual labor market. 

Possible alternative solutions

The deadly impact of the coronavirus pandemic put new issues in order and pushed unemployed people to think creatively and try something else. After the lockdown, self-employment is a new trend in the UK and the whole world. The only possible way to receive income while sitting at home restricted to continue your usual work is to become self-employed. 

1 2 3
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.