Impact of Covid-19 on UK Job Market

This article examines the economic impact of the Covid-19 pandemic on the UK job market. It discusses the decline in output, unemployment, and salary cuts. It also explores the vulnerability of different regions, sectors, and demographics. The article highlights the sectors at the highest risk of job loss and the overall impact on the UK economy.

The impact of Covid
pandemic on the UK job
market in the near future

TABLE OF CONTENTS
MAIN BODY...................................................................................................................................1
REFERENCES................................................................................................................................2

MAIN BODY
There is a higher degree of economic impact on the Scottish economy because of
Coronavirus pandemic crisis. The purchasing manager index tends to record the biggest decline
within the emergence of new business (Coronavirus: Reports highlight impact on Scots
economy, 2020). The Scottish Council for the development and to state that the where are
various sectors within the economy which might face difficulty in future which eventually leads
to unemployment within the economy. As per the RBS survey, it tends to state that there would
be a continuous clatter within the private sector economy which will eventually affect the job
market of the United Kingdom (Bradbury‐Jones and Isham, 2020). That index has declined from
10.7 from 29.7 which tends to reflect that there is a huge decline in output because about quarter
of the business has stopped trading and resulted in several of the cutbacks sharply. It has resulted
in high degree of unemployment and salary cut down within the United Kingdom market. The
Royal Bank of the Scotland tends to make a statement that the COVID 19 pandemic tends to
create severe repercussions for the Scottish economy and has also resulted in reduction in the
private sector activity.
Approximately 7.6 million jobs or around 24% of the United Kingdom workforce are at the
risk of losing the job because of COVID-19 lock down. People and places with the lowest degree
of income are considered to be the most vulnerable. The United Kingdom gross domestic
product in 2020 is expected to shrink by 9%. This tends to create high degree of crisis and
shrinkage in employment level which in turn largest effect on the economy. Approximately 50%
of the jobs within United Kingdom are addressed. The COVID-19 pandemic has resulted in
payment layoff, reduction in working hours, reduction in pay, temporary furlough and firing of
employees. Places which tends to have low degree of income level are most vulnerable to the
job loss during COVID 19 pandemic crisis.
The jobs within the United Kingdom are at high risk and it mainly differs from region,
sector, education level, age, ethnicity, family status, education, occupation and gender. It has
been estimated that as till April 19 around 22% of the working age population of the United
Kingdom has been furloughed. Large number of business has been laying of the employees of
the organisation (Bradbury‐Jones and Isham, 2020). The lock down because of COVID-19
pandemic has resulted in significant job loss because the ability of the company to employ or pay
workers has reduced.
1

The COVID-19 crisis has put vulnerable workers at higher degree of risk. Accommodation
food service sector is considered to be one of the major sector which is at the higher degree of
risk of losing job. The next is our entertainment and recreation sector which has resulted in
unemployment and loss of job all the people within United Kingdom job market. Hence, the
COVID 19 crisis has affected large number of business sectors which leads to salary cut down,
law offs and furloughs which effect UK economy.
2

REFERENCES
Books and Journals
Adams-Prassl, A., and et.al C., 2020. Inequality in the impact of the coronavirus shock: New
survey evidence for the uk.
Bradbury‐Jones, C. and Isham, L., 2020. The pandemic paradox: the consequences of COVID‐19
on domestic violence. Journal of clinical nursing.
Online
Coronavirus: Reports highlight impact on Scots economy. 2020. [ONLINE]. Available
through<https://www.bbc.com/news/uk-scotland-scotland-business-52624765>
3