Essay on the Near Future Impact of COVID-19 on the UK Job Market

This essay examines the significant impact of the COVID-19 pandemic on the UK job market, focusing on the near future. It explores the economic consequences of lockdowns, including business closures, unemployment, and reduced GDP, with specific data points such as the percentage of jobs at risk and the decline in economic activity. The essay also discusses the potential long-term effects on employment levels, considering factors such as company finances and hiring freezes. The conclusion summarizes the pandemic's detrimental effects on both health and the economy, highlighting the challenges faced by the UK job market. The essay uses cited sources to support its arguments and provides a comprehensive overview of the topic.

Essay

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Covid-19 pandemic refers to on-going epidemic due to occurrence of coronavirus disease at
global level which impact on entire manhood (Maital and Barzani, 2020). It includes the specific
cause of SARS-CoV-2 (severe acute respiratory syndrome coronavirus 2). However, this
pandemic is responsible for making lockdown in different countries including United Kingdom.
In context of this assignment, it is based on the topic of the impact that the Covid-19 pandemic
on the UK job market in the near future.
MAIN BODY
The impact that the Covid-19 pandemic on the UK job market in the near future
The COVID-19 pandemic can be considered as an extremely critical crisis which is faced by
people living at global level. It includes the fact that first case of CIVid-19 was reported in
Wuhan of China with condition of unknown cause of having pneumonia. However, it has been
analysed that coronavirus can easily spread between people by air due to which masks and
hygiene steps are taken for avoiding the same (Glover and et. al., 2020). Apart from this,
different countries go for lockdown strategy to reduce the level of spreading the COVID-19 to
save lives of people including UK. It is necessary to put efforts for decreasing the spread and
cases of coronavirus in the country. The lockdown impact on lives of people in economic way
which is responsible for developing several problems for them. However, the private and public
organisations become closed due to lockdown which make many of people unemployed and
some of labours get terminated from their work place that develops severe condition as labour
class people were not able to even to intake tow time meals properly in United Kingdom.
Meanwhile, it is observed that many of people become unemployed and organisations are
running in losses due to which they have limited funds as they only have few of important staff
with them.
In context of near future, it has been analysed that around 7.6 millions of jobs or 24 % of
workforce in UK are at risk because of lockdown related to COVID-19 pandemic. It is observed
that people and places with the lowest incomes are the most vulnerable. Meanwhile, it includes
that economic activity become around 30 % down roughly in which 23 % business get closed in
temporary manner due to this pandemic (Chiumenti, 2020). However, it has been evaluated that
GDP is expected to shrink around 9 % by the year of 2020. The job levels are reduced in near
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future in UK because companies do not have much funds or money to give salaries and wages
for more employees due to which they were not hiring new joiners. Moreover, after some time,
when business overcome with their losses to hire new employees then job crisis can be solved
respectively.
CONCLUSION
From the above report, it has been concluded that pandemic of COVID-19 is responsible for
reducing the health level as well as economic level of all the countries. It includes the condition
created by lockdown due to which school, colleges, institutions and business organisations were
closed impact negative in job market of given country.
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REFERENCES
Books and journals
Chiumenti, N., 2020. Impact of the COVID-19 Pandemic on New England Homeowners and
Renters (No. 2020-02). Federal Reserve Bank of Boston.
Glover, A. and et. al., 2020. Health versus wealth: On the distributional effects of controlling a
pandemic (No. w27046). National Bureau of Economic Research.
Maital, S. and Barzani, E., 2020. The Global Economic Impact of COVID-19: A Summary of
Research. Samuel Neaman Institute for National Policy Research.
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