Unemployment in UK Hits the Peak of Last 4 Years

Unemployment in UK Hits the Peak of Last 4 Years Unemployment in the UK hits the peak of the last 4 years. In the last 3 months, 241 thousand more people lost their jobs in the country. Unemployment in the UK has reached its highest level since 2016 due to the new type of coronavirus pandemic. In the last 3 months, another 241 thousand people became unemployed. According to the current data published by the British Bureau of National Statistics, the number of job seekers increased by 241 thousand within 3 months from October. With these data, the unemployment rate in the country reached 4.9 percent, the highest level in the last 4 years. The said unemployment data showed the sharpest increase since the 2009 financial crisis, after the 243 thousand figure recorded in the third quarter of the year. The UK government estimates that the unemployment rate will rise to 7.5 percent. On the other hand, the possibility of leaving the European Union (EU) without a deal seems to slow down the economic recovery further. In the Brexit negotiations involving leaving the European Union on December 31, no agreement was reached yet, and the negotiations were extended due to the fishing problem.