The impact of this hidden unemployment surge varies not just between the private and public sectors but across different places, of course, with already deprived areas – including inner-cities and former industrial heartlands – suffering most.
There are now at least 50 claimant count unemployed chasing each job in places including Bolsover, Pendle, Rhondda, Telford, North Lanarkshire and the London borough of Barking and Dagenham, according to new research from the Institute for Employment Studies. The unemployed-to-vacancy ratio is, meanwhile, at most three to one in more prosperous localities, including Warwick, Lewes, Midlothian, Chichester and Stafford.
New government data shows 9.1 million workers were furloughed by 1.1 million employers up until the end of May. The state is paying 80pc of their wages, up to £2,500 per month, at a cost to the Treasury so far of £20.8bn.
The reality is that, as the scheme ends over the summer, and more costs shift to businesses, many furloughed workers could be laid off, sending unemployment spiralling to the mid-teens or even higher. If you think that’s alarmist, consider a recent YouGov poll of 500 business leaders across the country.
Read the full story here: https://www.telegraph.co.uk/business/2020/06/20/uks-jobs-nightmare-just-beginning/
ExcludedUK is a newly formed non-profit NGO and serves as a collective platform for those entirely or largely excluded from the UK Government's Covid-19 financial support measures. We are a rapidly growing organisation and an inclusive community, representing a broad spectrum of individuals and businesses, but all sharing one common thread: we are excluded.As an organisation we will play a crucial role in facilitating support and assistance on multiple levels, both for now and into the future.Our aim is to build a stronger platform, raise awareness, lobby for support, raise funds for legal challenges and help enable the changes that are needed for those excluded.Most importantly, our hope is that our efforts can help propel affected individuals and businesses forward in the face of adversity resulting from Covid-19 and being excluded from Government support, while equally ensuring we are all able to help each other emerge from this crisis.