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Reed highlights green shoots despite 650,000 job losses

New data from the Office for National Statistics (ONS) shows that 649,000 people came off company payroll between March and June and 74,000 fewer people were on the PAYE register during June compared to the previous month.



“Today’s employment statistics paint a bleak picture of how lockdown has affected the UK’s economy,” commented Reed chairman James Reed. “Hopes of a V-shaped recovery were dashed earlier this week by May’s disappointing GDP figures. Now the ONS unemployment statistics suggest the UK’s economic trajectory could look more like a game of snakes and ladders.  It’s clear that the road to recovery will be long and that there’ll be lots more ups and downs along the way.”



However, Reed data highlights positivity in some sectors. “Green shoots are beginning to appear in different sectors of the jobs market. There were marked increases in financial services and estate agency roles on last month, and there are over 10,000 jobs available separately in education and health and medicine. Furloughed or unemployed workers may need to consider their transferrable skills or reskilling and upskilling to adapt to new sectors where the opportunities exist.



“There is a concerted effort to support the sectors hardest hit by the pandemic, and to help train young workers; but more should be done to unleash apprenticeships and increase young peoples’ skills.



“Government and business will need to work constructively and creatively to help support the jobs market – our Keep Britain Working campaign is doing exactly this. By bringing together business leaders and workers we’re now developing ideas such as reforming National Insurance, improving employment law and expanding research and development that will support the jobs market and help us recover from this economic upheaval.”



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