{"id":50331,"date":"2020-05-30T13:53:25","date_gmt":"2020-05-30T12:53:25","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=50331"},"modified":"2020-05-30T13:53:46","modified_gmt":"2020-05-30T12:53:46","slug":"the-likelihood-that-the-uks-unemployment-rate-will-exceed-30-is-very-high","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2020\/05\/30\/the-likelihood-that-the-uks-unemployment-rate-will-exceed-30-is-very-high\/","title":{"rendered":"The likelihood that the UK’s unemployment rate will exceed 30% is very high\u00c2\u00a0"},"content":{"rendered":"

The Institute for Government<\/a> has published this chart of unemployment statistics for five countries this morning:<\/p>\n

\"\"<\/p>\n

Note that the UK is lowest on the chart.<\/p>\n

But that's only because around 25% of the UK's employees and self-employed people are on job protection schemes right now.<\/p>\n

No one knows precisely how many jobs will be lost as a result of coronavirus in the UK: the proverbial has yet to hit the fan due to furlough. But Rishi Sunak is prematurely pulling the rug from under that scheme now<\/a>. The truly torrid nature of our real likely unemployment rate is going to be revealed over the next few months and there is no reason to think we're not on a par with Ireland. The likelihood that our unemployment rate will exceed 30% is very high.<\/p>\n

We need four things:<\/p>\n

A government committed to full employment, come what may;<\/p>\n

A government committed to the environment, come what may;<\/p>\n

A government committed to a sustainable economy, come what may;<\/p>\n

A government that truly appreciates that in a crisis like this wealth really is created by the state.<\/p>\n

I am not convinced we have a\u00a0 government that understands any of those issues. If it had ti would be talking about a Green New Deal<\/a> now.<\/p>\n

I am terrified that we are easing lockdown from coronavirus too early.<\/p>\n

But I am as worried that what follows may well be worse.<\/p>\n

And it need not be. All the funding to address these issues is available<\/a>. But the government is not willing to address them.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Institute for Government has published this chart of unemployment statistics for five countries this morning: Note that the UK is lowest on the chart.
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[181,35],"tags":[],"class_list":["post-50331","post","type-post","status-publish","format-standard","hentry","category-coronavirus","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/50331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=50331"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/50331\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=50331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=50331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=50331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}