“Stable unemployment to May and a big drop in hours worked shows that the Job Retention Scheme worked. But the June payroll data shows that 650,000 people have already lost their jobs – a number that will rise as firms make decisions about the amount of staff they now need, given the state of their markets. But we must remember that the British economy is always creating jobs. Our Jobs Recovery Tracker suggests that job ad numbers have been rising since early June. In the next few months the key will be helping firms retain staff as furlough ends – that’s why the REC has called for a targeted cut in National Insurance – and helping those who do lose their job to find new work quickly. The recruitment industry welcomed the Chancellor’s plans on this last week. Recruiters are ready to help get people into work and keep unemployment down as much as possible.
“Reopening workplaces will give the economy a much-needed boost. Many firms want to know when the Government will feel able to lift employee confidence by switching from working from home if you can, to going to work if it is safe. The Prime Minister’s comments yesterday were helpful in this regard – but the guidance needs to reflect them.”
