Coronavirus: Coronavirus crisis could push unemployment levels in UK and US beyond record numbers of the 1930s Great Depression, warns leading economist

Coronavirus crisis could push unemployment levels in UK and US beyond record numbers of the 1930s Great Depression, warns leading economist [LINK].

During the Great Depression, unemployment hit 24.9 per cent in the US and 15.4 per cent in the UK, over several years.

But Professor Blanchflower said unemployment in the UK could rapidly rise to more than 6 million people – which is around 21 per cent of the entire workforce.

This was based on analysis of US job market figures suggesting unemployment could peak at 52.8million, which is around 32 per cent of the workforce.

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