UK

This tag is associated with 633 posts

Young People Leaving Full-Time Education in UK – Employment rate are projected to be 13 per cent lower

The economic fallout from the coronavirus has taken the UK into uncharted territory, with fears that an additional 640,000 18-24-year-olds could find themselves unemployed this year alone. This briefing note focuses specifically on the prospects facing young people leaving full-time education today, highlighting the size and length of employment and pay scarring that they could … Continue reading

Going Green in UK – Highly-polluting industries employ 45 per cent of the workforce

To tackle the climate crisis, the UK Government has set a target of net-zero greenhouse gases by 2050. To achieve this target, a major transformation is required to prepare sectors and workers for the green economy. This report analyses the scale of the challenge and considers how sectors can adapt to avoid unemployment through the … Continue reading

COVID and the Self-Employed in UK – Have been hit particularly hard

The Covid-19 shock is one of the largest economic shocks that has taken place in living memory. The crisis has served to highlight the challenges governments face in extending social insurance to self-employed workers, for whom it is difficult to verify work behaviour. Chancellor Rishi Sunak described designing a “deliverable and fair” support package for … Continue reading

Homeworking in UK – Around 8.7 million people said that they have worked from home

Of the 32.6 million in employment, around 1.7 million people reported working mainly from home, with around 4.0 million working from home in the week prior to being interviewed for the survey. Around 8.7 million people said that they have worked from home; this is less than 30% of the workforce. Some industrial sectors, such … Continue reading

COVID in UK – Unemployment has risen markedly says the Bank of England

The Bank has published its quarterly Monetary Policy Report alongside an interim Financial Stability Report. Together, they provide a scenario for the path of the UK economy in the light of Covid-19 and assess the financial system’s resilience to that scenario. The spread of Covid‐19 and the measures to contain it are having a significant … Continue reading

COVID and Wage Subsidy in UK – Intense pressure this weekend to offer a massive “second wave”

The chancellor Rishi Sunak is under intense pressure this weekend to offer a massive “second wave” of financial support to businesses within weeks amid growing fears of a catastrophic early summer of spiralling unemployment and company bankruptcies. With the government’s £40bn job-retention scheme running until the end of June, business groups and the Labour party … Continue reading

COVID and Jobs in UK – Losses have disproportionately affected young people, women and the lowest paid.

Coronavirus is a public health crisis and the Government has rightly taken unprecedented measures to tackle it. This has included significant restrictions on much social interaction and economic activity. The result has been the sharpest spike in unemployment on record. There were one million claims for Universal Credit in a two week period, 7.3 times … Continue reading

COVID, Jobs and Lockdown in UK – Can take more than 6.5m jobs out of the economy

Estimates produced by the Institute for Social and Economic Research (ISER) at the University of Essex suggest the lockdown can take more than 6.5m jobs out of the economy -around a quarter of the total.The study led by Professor Matteo Richiardi with ISER researcher Diego Collado uses ONS data to predict job losses by sector.Using … Continue reading

Coronavirus Job Retention Scheme in UK – Estimated total cost at as much as 56 billion pounds

Britain’s bailout battle is heating up before the first penny has even been paid in an unprecedented effort to save jobs amid the coronavirus pandemic. While more than half of U.K. companies are expected to apply for government grants to pay furloughed employees, critics say they expect too much of the cash to go where … Continue reading

COVID in UK – Job retention scheme extended by one month

The Treasury’s coronavirus job retention scheme paying 80 per cent of wages for furloughed workers is being extended by a month to the end of June, chancellor Rishi Sunak has announced.The move comes a day ahead of Saturday’s deadline for employers to issue redundancy notices for staff being laid off at the end of next … Continue reading

COVID and Higher Education in UK – Universities will be hit harder than hospitality

Education will be the sector of the economy hardest hit by an extended lockdown in the face of the coronavirus pandemic, according to new analysis. The impact on education is forecast to be greater even than that on the hospitality industry, which has been almost entirely closed down by efforts to contain the spread of … Continue reading

COVID in UK – Office for Budget Responsibility warns of 35% fall GDP and unemployment up to 10%

Evidence from past pandemics suggests that the economic impact of the coronavirus will arise much less from people falling ill or dying than from the public health restrictions and social distancing required to limit its spread. This will reduce demand for goods and services and the ability of businesses and public sector institutions to supply … Continue reading

COVID and Seasonal Workers in UK – Government asks millions of students and furloughed workers to pick fruit and veg

Farms won’t be able to recruit seasonal fruit and veg pickers from Europe, so those at a loose end will be asked to step in under the ‘Pick for Britain’ scheme. The government is to ask millions of university students and furloughed workers to pick fruit and veg amid the coronavirus crisis in a national … Continue reading

COVID in UK – The 80%

Yesterday, the Chancellor announced that last week’s pledge to underwrite 80 per cent of the wages of employees without work to do during this crisis is being matched with significant grants to the self-employed. This is an important addition to existing plans to support employees, and in many ways a more generous offer. The Self-Employed … Continue reading

COVID-19 and Jobs in UK – Government to pay 80% of wages for those not working

The government is to pay the wages of millions of workers across Britain to keep them in jobs as the economic fallout from the coronavirus outbreak escalates. In an unprecedented step for the British government, the chancellor, Rishi Sunak, said the state would pay grants covering up to 80% of the salary of workers if … Continue reading

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