Minus 20 percent in a month – a landslide of a sudden slump in economic performance in the UK since time immemorial. The Figures for April show the brutal, the Coronavirus, and the quarantine force have placed measures on the economy to a standstill.
The rise in unemployment is currently being delayed by the billion program for “on leave” employees. However, in the late summer and autumn is likely to roll the big wave of redundancies. Then probably around three million people on the island are unemployed, the highest number in thirty years.
The British labour market is flexible. The hope is that this also favors rapid re-settings. On the scenario of a fleet of recovery, the risk of a spout floats but Brexit-the transition period ends the end of 2020, without a subsequent free trade agreement.
The London government and the EU must try to prevent. Also for the continental European economy, new trade barriers would be an additional burden, and the recovery from the Corona would make the shock even more difficult.
