Job Market Monitor
UK
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
Apprenticeships in UK – A steady rise in the number of starts at higher-education
The DfE publication included final figures on the number and type of apprenticeships that were started over the 2018/19 academic year. It confirmed one trend that we have continuously identified: the fall in apprenticeship starts at Level 2, and the steady rise in the number of starts at higher-education (Level 4+) levels, as the chart … Continue reading
Reskilling and Upskilling in UK – National Retraining Partnership and National Retraining Scheme
The Fourth Industrial Revolution is changing the world of work at rapid pace and driving up the level of skills required. But this picture is complicated further by declining levels of adult participation in learning precisely at the time it needs to be going up. The UK skills situation is made more challenging by a … Continue reading
Higher Education in UK – Detailed case studies of partnerships for high-level skills
The UK has a world-class university system that plays a crucial role in producing a highly skilled workforce that can meet the rapidly shifting needs of the country. To remain responsive, the sector is developing new models and approaches. Partnerships between higher education, further education, employers and other parts of the tertiary education system are … Continue reading
The Apprenticeship Levy in UK – What is it ?
In April 2017 the Government implemented the apprenticeship levy, a mandatory employer tax that contributes to apprenticeship development. Yet not all employers need to pay this tax. The apprenticeship levy is only paid by organisations with a pay bill of over £3 million each year (regardless of whether they employ any apprentices). Levy Payers: Organisations … Continue reading
Skills Shortages in UK – The talent already in short supply will be in even greater demand by 2030
Profound structural shifts are under way in the UK workforce. Here’s how companies can prepare to meet the challenge and nurture the skills and talent that will help them stay competitive. The adoption of automation, along with technologies such as artificial intelligence (AI) and the Internet of Things, is likely to unleash profound structural shifts in … Continue reading
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