United Kingdom: Jobless Claims Soared to 2.1 Million in April

(20 May 2020)  Jobless claims in the United Kingdom jumped 69.1% MoM in April to reach 2.1 million, according to the UK Office for National Statistics (ONS), making it the largest month-on-month increase since records began in 1970. The increase comes even as the government has implemented an emergency wage subsidy that pays 80% of workers’ wages up to sterling pound 2,500 per month.

The government also enhanced its Universal Credit social security payment to expand eligibility for unemployment benefit support. As a result, ONS cautioned that the claims figure may not be an accurate reflection of unemployment given the new measures to help those whose income is affected due to the coronavirus.