The United Kingdom is set to spend billions of pounds in extra support for the economy over the next four months, as pandemic curbs pushed unemployment to its highest level of almost five years. The chancellor of the exchequer Rishi Sunak will set out the details in his Mar 3 budget.
The United States grew at a 4% annual rate in the final three months of 2020 and shrank last year by the largest amount in 74 years. The coronavirus inflicted the worst economic freeze since the end of World War II, the economy contracted 3.5% and clouded the outlook for this year.
Tentative signs of recovery are emerging in global labor markets, following unprecedented disruption in 2020 due to the Covid-19 pandemic, according to the latest report from the International Labour Organization, ILO.
Chile's unemployment rate eased to 10.8% between September and November, the government said in the last day of 2020, but remained well above the same period the previous year as the coronavirus pandemic continued to weigh on the economy of the world's top copper producer.
Brazil’s unemployment rate fell unexpectedly to 14.3% in the three months through October, official figures showed on Tuesday, the first decline this year as the number of people with jobs rose by almost 2 million from the prior three months.
US President Donald Trump on Sunday signed into law a US$2.3 trillion pandemic aid and spending package, restoring unemployment benefits to millions of Americans and averting a federal government shutdown in a crisis of his own making.
The unemployment rate in Argentina fell in the third quarter from the previous three months as an economic activity seems to be tepidly recovering. The rate fell to 11,7% at the end of September compared to 13,1% in the second quarter, according to the country's stats office, Indec.
U.S. employers added 245,000 jobs last month and the unemployment rate slipped to 6.7%, the Department of Labor said on Friday. The fresh economic data shows the labor market clawing its way out of the pandemic-induced downturn, but still far away from a full recovery. The unemployment rate in the U.S. was 3.5% in February before the crisis hit.
The number of registered Brazilians out of work and the national unemployment rate rose to the highest on record, official figures showed on Friday, as the easing of COVID-19 lockdown measures encouraged people to look for work again.
The U.S. economy grew at a historic pace in the third quarter as the government injected more than US$ 3 trillion worth of pandemic relief which fueled consumer spending, but the deep scars from the COVID-19 recession could take a year or more to heal.