How Low U.K. Unemployment Masked Holes Exposed by Pandemic

The U.K. has record-high employment and the lowest jobless rate since the 1970s. But the labor market -- and many workers -- are more vulnerable to the economic fallout from the coronavirus than those headline numbers suggest.

For one, pay growth has lagged other major economies and wages are barely higher than they were before the financial crisis. Many more people now work for themselves and almost a million are on zero-hour contracts, with no guarantee of hours from week to week. Charities report continued problems with debt.