UK jobless benefits double pre pandemic level

The UK has, since the outset of the COVID pandemic, shed almost three quarters of a million jobs with many earning less and working less than five days a week. The level of people claiming out of work benefits from the government has also risen to 2.7 million people and represents nearly double the level of claims pre pandemic. Investors are continuing to pare back expectations towards UK assets as the furlough scheme ends in a few months with many expecting jobless claims to rise further as the UK continues to remain in a demand glut.