Workers under 25 are bearing the brunt of Covid-19 unemployment, accounting for more than 60 per cent of jobs lost during the crisis.
There are nearly 700,000 fewer employees on payrolls compared to February last year, Office for National Statistics figures showed. More than half of the decrease was in hospitality, after lockdown restrictions hammered the industry, and nearly a third was in London.
However unemployment has fallen slightly for the first time during the pandemic, from 5.1 per cent to five per cent, an increase of 68,000 workers between January and February.
This figure represents 1.7 million people who are still out of work, and does not include those placed on furlough by their employers. Around 11.2 million people have been supported by the Government’s job retention scheme since March 2020.
The furlough scheme and lockdown restrictions have the jobs market “largely on ice” according to Nye Cominetti, senior economist at the Resolution Foundation.
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