Storm ready - how to keep us afloat as unemployment hits

With the Coronavirus Job Retention Scheme (CJRS) set to be withdrawn fully on 31 October, we are now on the eve of a coming wave of unemployment. We’ve created a COVID-19 Pre-Vaccine Job Risk Index to predict which jobs are most at risk, and who and where are most likely to be affected. Our analysis suggests that winding down the CJRS without a replacement will lead to big job losses in sectors such as hospitality and leisure that are likely to grow again post-pandemic.

We recommend:

1. Introducing a COVID-19 Job Support Scheme, a new temporary and targeted furlough policy measure for businesses that continue to face constrained capacity and reduced demand due to required social distancing measures.
2. A further package to create new job opportunities to deliver a ‘good jobs’ recovery, including:

• A package of targeted employment support for workers most at risk of job losses.
• A ‘New Deal for Adult Education’.
• Go further on job creation programmes.
• Use the promised UK Shared Prosperity Fund (UKSPF) to deliver on the Government’s levelling up pledge.