Surprise drop in unemployment

The 1-minute read to get all the money news plus expert adviser views.

Fewer out of work

The unemployment rate fell to 4.9% in the three months February - that’s still 0.9% higher than it was in February 2020, but less than many predicted after the winter lockdown. The Office for National Statistics (ONS) says 813,000 jobs have been lost in total since the start of the pandemic, and around 80% of those were to people under 35. 5 million are still on furlough.

Britcoin?

Chancellor Rishi Sunak has confirmed he wants the Bank of England to investigate the idea of a new central bank digital currency (CBDC). Dubbed “Britcoin”, the currency could allow people and businesses to hold accounts at the Bank of England, and speed up foreign and domestic payments.

Cheaper premiums

The cost of car insurance has fallen by £87 over the last 12 months - the biggest drop for 6 years. The data from confused.com shows UK motorists can expect to pay an average of £538 for their car insurance this year. How come? We’re driving less since the pandemic started, so the risk of accidents has gone down.

Green plan?

A stimulus programme earmarked for green and digital projects could create 1.2 million jobs within 2 years, replacing every job lost to the pandemic, according to Green New Deal UK. The new research comes as the government commits to new climate targets, promising to cut carbon emissions by 78% before 2035.