Chancellor promises double-digit unemployment

Chancellor promises double-digit unemployment

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Politician to keep promise: Shock!

It comes to something when we know the one big promise we can trust a top politician to keep is a recession “on a scale we have not seen before” and “double-digit unemployment”.

The Chancellor, Rishi Sunak, goes on to warn us there can be no guarantee of the longed-for “V-shaped” recovery. There’s even talk among some commentators of an “L-shaped” recovery: in other words, no recovery at all.

Mr Sunak’s stark message comes as the Office for National Statistics (ONS) releases figures for April, the first full month of the lockdown, showing a sharp rise in the number of people unemployed and claiming benefit, prompting expectations next month’s figures will show a far bigger jump towards a different order of magnitude altogether.

You would have thought “unemployment soaring” would have been a safe conclusion for the headline writers to draw from all this.

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