UK unemployment could double as Bank of England warns of sharp recession

The Bank of England has forecast the worst economic recession since 1706, with unemployment predicted to increase from 4% to 9%. Its Governor, Andrew Bailey, also believes the recovery will be quicker than usual, with positive growth expected in 2021.

#COVID19 #coronavirus #uk

[mrfugazi]

Forget about a recession I think we’re heading for a very big depression

[FaeSparrow]

I'm so fed up with all of this. I am looking for a job currently, and it's impossible. The governments level of incompetence only pisses me off more.

[jaykingston]

The town i live in has, since February, had less than 400 people infected out of a possible 60, 000!! Why on earth are the people in my town losing their livelihoods and facing financial ruin over such small numbers!? The numbers for the county aren't available (or are hard to find). Surely my town can get back to work and start driving the economy, I bet yours can too. #Back2work

[stoneroses]

Based on the general comments here, lockdown is seriously affecting people's mental health

[returninnocence]

Do we really need the bank of England to tell us we are heading for a recession/depression...most people had worked that out in the first few weeks!!

[nicholaceho]

We will never be back to where we started most of our companies have closed its disgusting

[sangEta]

5.8% headline unemployed + 20.2% counted as inactive workforce + around 25% on furlough = a real UK unemployment rate of circa 51%!

[shanjanusman]

The Swedish Economy is probably the hottest economy in the world now as they avoided lockdown measures.

[charlier]

Well they seem to have achieved what they set out to do

[paulhoskin]

Donald Trump bought a book on how not to lie but he didn't bother reading it

[SaintPierrre]

Better check the gold bullion markets then.

[harishussein]

Not great news to go with all the deaths and difficulties for the NHS.

[DanNic]

The Bank Of England is a definition of 'Ivory Tower' in appearance

[paulhoskin]

I would laugh if it wasn't so serious

[MrB]

Suggestions of negative interest rates are a single of the end of the road.
Next are 'bail in's'.
Then even more desperate currency printing.
Then hyperinflation..

[disclaimer.imjokin]

What a surprise we the people pay for the government's failures 😂😂 welcome to great Britain aka 75 years ago we were great Britain

[jhb]

No more economic migrants or hand outs should balance the books nicely

[duncanbull]

The supermarkets need to play their part in helping us out of this recession. The sould be pressured to stock more UK produced goods instead of cheap items from China .
Ceramics from Stoke on Trent, greeting cards printed here and so on .
Many places buy foreign products when they should buy British.
Kew Gardens, The National Trust even the Poppy Appeal they are all responsible.

[hz]

Then discipline. A proper lockdown will ensure the virus will be gone in a shorter time.We should have already reopened if a lockdown tightened from beginning. School should be closed earlier. Young people should respect their elder parents and grandparents and be patient and stop being selfish- I do feel some younger ones are very selfish without sympathy.

[MYKEYCARD]

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