What will coronavirus mean for the British economy?

As the UK faces what may be its worst ever recession, we begin a monthly series exploring the financial shock to business and living standards

One month after a national lockdown was declared in an attempt to limit the spread of Covid-19, it is clear that Britain is heading for the deepest recession in living memory.

Boris Johnson’s government launched unprecedented restrictions on 23 March, telling the British public that they must stay at home and bringing life as the nation knew it to an abrupt halt.

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UK wage growth hits 11-year high as self-employment total surges – business live

British worker are getting the biggest pay rises in a decade, as jobless rate remains at 44-year low. But the market may be cooling....

New @ONS stats show that:

- the employment level is at a record high
- there are 3.7m more people in work than in 2010
- wages have grown faster than inflation for almost a year
- female unemployment has fallen to a new record low of 3.6% pic.twitter.com/V9C5NMXW9l

Andy Bruce of Reuters has also spotted that rising self-employment is making up for a drop in the number of employed workers.

Cause for concern?

That there was any employment growth at all in 3 months to May is down to a hefty increase in self-employment.

Employee jobs declined at fastest rate since 2011. pic.twitter.com/cg05f02Az2

Along these lines, looks clear that vacancies have peaked already. pic.twitter.com/t06diHVMRn

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