Recent estimates from Pay As You Earn Real Time Information suggest that the UK is heading for an employment slump.
The figures show that the number of staff registered on company payrolls crashed by 612,000 between March and May.
Meanwhile, the news was little better for job seekers. Vacancies experienced a severe contraction, with 342,000 fewer jobs available than in the previous quarter.
The findings offer little comfort to those who have recently lost their jobs and heap more pressure on the government to find workable solutions.
The Workers Union Says
The Workers Union’s chief spokesman, Johnathan Morgan, said: ‘This is a crisis of decision-making as much as an economic crisis. It’s clear that company chiefs are laying off staff because of a slump in demand for products and services. But they are also worried about the end of the employee retention (furlough) scheme. The government needs to urgently review this policy and consider additional methods of support.
‘At the Workers Union we are quite clear that every job lost is a brake on economic recovery. We understand that furlough schemes are an expensive drain on the Treasury’s resources. But history tells us that it comes down to making choices about who and what we want to prioritise. It’s interesting to note that we can always find money for defence programmes and ministerial jets. Now we need to put the working people of this country first and protect their jobs and livelihoods.
‘The COVID-19 virus hit the UK at the worst possible time. Uncertainty over Brexit and a nation divided about its future has fractured the social contract. Now is the time to bring us back together by extending furlough and developing an ongoing system of support.’
The Workers Union – Britain’s hardest working union