UK Unemployment Focused in Generation Rent, Mortgage Impact Likely Limited
The impact of the Coronavirus Disease (COVID-19) pandemic in the UK has largely been offset by government intervention. Furlough schemes and payment holidays have protected borrowers and prevented a rise in defaults. However, unemployment has still been creeping upwards despite these actions, rising to 5.1% in December 2020, a 1.5% increase from a year earlier.
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