Analyzing the Impact of the COVID-19 Pandemic on the UK Job Market

This report analyzes the impact of the COVID-19 pandemic on the UK job market, examining its effects on employment, economic activities, and business operations. The study highlights the decline in job opportunities, the impact on GDP, and the challenges faced by businesses, including workforce reductions and reduced investment. The report discusses the role of social distancing, the impact on tourism, and the potential for economic recovery. It also covers the issues faced by the worker class and the role of worker unions. The analysis uses references to support the findings and offers insights into the current employment rate, the composition of businesses, and the future job market trends in the UK.

THE IMPACT OF COVID
PANDEMIC ON THE UK
JOB MARKET IN THE
NEAR FUTURE

TABLE OF CONTENT
The Impact of Covid Pandemic on The UK Job Market in The Near Future.............................3
REFERENCES................................................................................................................................5

The Impact of Covid Pandemic on The UK Job Market in The Near Future
Due to Covid19 pandemic it impacted economies worldwide reducing their productivity.
Covid19 is human to human transferable virus which causes mass deaths if not cured on time.
This increased the panics in the world and implemented different strategies to avoid all the types
of issues and challenges to gain higher productivity effectively (Williams and et al., 2020). UK
government has implemented mass lockdown in the country to contain Covid19 to spread in the
whole country. This has impacted slowdown of economic activities and thus impacting GDP of
UK to provide better facilities effectively. There are many issues which has impacted the decline
of the job opportunities while lockdown which also includes panic in people as there is no cure
of the disease yet. Due to pandemic hit other economies businesses and multinational
corporations have to pull their investments form the global market to survive. Large companies
also terminate thousands of workforce to reduce their cost and survive in the market. This has
impacted the job opportunities for UK population to grow due to high risk and low standard of
living of the people. Pandemic has impacted lifestyle of people as social distancing norms are
included in daily life it has reduced the sales of many leisure services and majorly impacted
tourism industry. Tourism is the one of the major source of revenue for UK which is restricted to
avoid the spread of virus in the country effectively. there are also many factors which reduced
the efficiency of companies to develop new strategies to attain higher profit margins. Due to
reduction in economic activities GDP of UK has dipped majorly more than 2008 recession
(Battistini and Stoevsky, 2020). Covid19 impacted the chances of UK as more than 7.6 million
employments were at risk at the time of lockdown. Businesses were not able to manage their
workforce which enabled them to fire them and reduced the cost for the future growth
effectively. current employment rate has reduces which is 10 Euros per hour which will impact
the demand and supply cycle of UK to increase the productivity to recover from this recession
effectively.UK has the composition of percent of large sized organisation and majority as small
and micro scale organisation which has faced bankruptcy or closed due to lack of demand. UK
businesses are not confident to increase their growth by inventing in new activities which is also
reducing the opportunity of job creation. Low level income will also impact global trade and
balance of payment negatively. Country has to outsource employees from other countries as
providing employment in the country will increase the cost of businesses. The main issue which
country faced was on worker class as UK worker unions has failed to provide them with jobs,

this impacted the flow of economy to grow and gain higher profit margins effectively (Cassells,
Duncan and Dockery, 2020).

REFERENCES
Battistini, N. and Stoevsky, G., 2020. Alternative scenarios for the impact of the COVID-19
pandemic on economic activity in the EURO area. Economic Bulletin Boxes. 3.
Cassells, R., Duncan, A. and Dockery, M., 2020. Potential job losses in the COVID-19
pandemic.
Williams, S.N and et al., 2020. Public perceptions and experiences of social distancing and social
isolation during the COVID-19 pandemic: A UK-based focus group study. medRxiv.