Tag: rate

Young people hit as unemployment rate rises

Image copyright Getty Images The UK unemployment rate has risen to its highest level for almost two years, official figures show. The unemployment rate grew to 4.1% in the three months to July, compared with 3.9% previously. Young people were particularly hard-hit, with those aged 16 to 24 suffering the biggest drop in employment compared with other age groups. Firms… Read more →

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Unemployment: Planned redundancies twice the rate of last recession

Image copyright Getty Images Image caption A number of household names have announced redundancy plans since the pandemic began Employers in Britain are planning more than twice as many redundancies than they did at the height of the last recession, new figures show. About 180,000 job cuts were planned from January to March 2009, while 380,000 were planned from May… Read more →

Coronavirus: NI economy ‘declining at a much slower rate’

Image copyright AFP Image caption Lockdown forced many businesses, such as non-essential retail and restaurants, to temporarily close Economic output in Northern Ireland continued to decline in June but at a much slower rate, an Ulster Bank survey has suggested. The bank conducts a monthly survey of a representative sample of about 200 firms. In April and May the survey… Read more →

UK inflation rate falls to fresh four-year low

Image copyright Dan Mullan A record fall in fuel prices, including petrol, pushed the UK’s inflation rate down to 0.5% in May, the second full month of the coronavirus lockdown. Fuel prices declined by 16.7% during the month, the Office for National Statistics (ONS) said, dragging the Consumer Prices Index (CPI) to the lowest level since June 2016. Clothing and… Read more →

What is the UK’s inflation rate?

Image copyright Getty Images Inflation affects everything from mortgages to the cost of our shopping and the price of train tickets. In April, UK inflation hit its lowest since August 2016 as the economic fallout of the coronavirus lockdown hit prices. But what exactly is inflation and what impact does it have? What is inflation? Inflation is the rate at… Read more →