Black youth unemployment hits 35%

Pandemic job losses

The unemployment rate among young black people has risen by a third over the past year to hit 35%, according to the Resolution Foundation. It’s 13% among white youth and 24% for those of Asian descent. The think tank says job losses from coronavirus have widened inequalities between ethnic groups and have hit young people hardest as they’re more likely to work in locked down sectors like hospitality and leisure.

Hottest property market

Rightmove has named Newquay as the hottest property market in the UK, where 8 out of 10 homes for sale have been snapped up since the start of the year. Birmingham city centre is at the bottom of the table, with just 2 in 10 homes sold in 2021. The property site says the data reflects a trend for moving rural - Cornwall has recently overtaken London as its most searched for area.

Foxtons’ doing all right

Foxtons has seen its takings jump 5% in the first 3 months of the year, amid climbing house prices and rocketing sales volumes. It’s one of the largest estate agents in the country and reckons it’s their best start to a year for a long time.

Tesco profits stall

Tesco has seen its profits slide 20% for the year to 27th February, despite strong sales throughout a year characterised by lockdows and stockpiling. The supermarket paid out £892 million in extra coronavirus costs, including bonuses for its staff.