Britain faces a tsunami of unemployment

Posted by Carolina Plugaru on

Unemployed young man sitting on the stairs

(Source: The Telegraph)

It was good to see so many young people celebrating Super Saturday at the weekend. But this was not Britain springing back to life or a return to normality. The young may have been out and about but many older people remained at home. Not all pubs and restaurants reopened, and those that did were often operating at well below normal levels.

There has been a lot of debate about which letter of the alphabet will best describe Britain’s economic recovery when it happens: V, L or U? The chief economist at the Bank of England says the data indicate a V-shaped recovery. There are also hopeful signs internationally. In the US, a record 2.7 million jobs were added in May. What was forgotten was that the US shed more than 20 million jobs in April.

Here in the UK, there may be some firms that enjoy a V-shaped recovery. Others, in hospitality, aviation or on the high street, face a mountain to climb.

Read more on The Telegraph

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