UK Recession Warning

Banks warn that the coronavirus pandemic will push the UK economy towards its deepest recession on record.

Average weekly earnings are expected to shrink by 2% this year, reflecting the fall in wages for furloughed workers.

Sharp increases in benefit claims are "consistent with a pronounced rise in the unemployment rate", which is expected to climb above 9% this year, from the current rate of 4%.

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Glasgow Care Foundation

Glasgow Care Foundation