The Impact of COVID-19 on the UK Job Market: An Essay

This essay examines the significant impact of the COVID-19 pandemic on the UK job market in the near future. It explores the economic consequences of lockdowns, business closures, and reduced profitability, leading to job losses and furloughs across various sectors. The essay highlights the disproportionate impact on accommodation, food services, retail, and wholesale sectors, alongside government schemes aimed at employee retention. It discusses the government's focus on supporting key industries like oil and gas, aviation, tourism, and hospitality to manage unemployment. The essay concludes by emphasizing the need for effective government measures to mitigate the pandemic's effects and facilitate economic recovery, ensuring the survival of businesses and the preservation of job opportunities. The essay uses provided links and other related information to support the analysis and incorporates Harvard referencing.

The impact that the Covid-
19 pandemic on the UK job
market in the near future

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
The covid-19 pandemic had severely affected the world economy as the world remains to
lockdown to minimise the impact of the pandemic. Due to this business, lifestyle of the people
and customer interaction from business perspective got affected and this resulted in troubling
situation for the survival of the businesses. This easy discusses about the impact of coid-19 on
the job market of UK in the near future.
MAIN BODY
The spread of the disease has direct impact on the economic activity of the country such as it
affect the business due to lock down and this leads to reduction in their profitability which affect
the employment of the people. On the basis of an article of McKinsey’s it has been identified that
many companies has called off permanent layoffs, temporary furloughs or even reduction the
working hours so that the pay can be reduced. Nearly all the sectors got severely affected but the
most affected sector of accommodation and food services as the labour is available on lower
rates. On an average the businesses have sent around 35% of their employees on furlough and
this percentage is high in the small businesses with 10-49 employees working with them.
Government has proposed various schemes that can support the retention of the employees with
the organisation but this will not going to benefit on a large scale (COVID-19 in the United
Kingdom, 2020). The revival plan for future so formulated by the government will facilitate the
businesses to ensure success to the business with the help of which their financial burden will
reduce and with this it is expected that the business performance will gradually improve the
opportunities in future will increase. The focus of the Scottish government is on the oil and gas,
aviation, tourism and hospitality industry for managing the problem of unemployment in the near
future as these industries contribute to the employment, growth and the productivity on a large
scale. The major risk in UK is to the jobs in the retail and wholesale sector which has employed
almost 22 percent of the working population of the economy (Corona virus: Reports highlights
the impact on the Scots economy, 2020). The demand for the employment in online retail and
grocery increased significantly which is outweighed by the temporary closure of various non-
food retail stores. In the sector such as amusement parks, restaurants etc. major risk are to these
jobs as they due to these the spared of the diseases can be major due to which the organisation
associated with them will be at stake and so is the employment with them.

CONCLUSION
It is concluded from the above report that the management of the impact of disease is must
for the government as this has severely affected the business and thus the job opportunities due
to which the life of the individuals got severely impacted. In addition to this various measures
need to be taken by the government so that they can ensure the revival of the situation efficiently.

REFERENCES
Online
COVID-19 in the United Kingdom, 2020. [online] Available through: <
https://www.mckinsey.com/industries/public-sector/our-insights/covid-19-in-the-united-
kingdom-assessing-jobs-at-risk-and-the-impact-on-people-and-places#>
Coronavirus: Reports highlights the impact on the Scots economy, 2020. [online] Available
through: <https://www.bbc.com/news/uk-scotland-scotland-business-52624765>