The outlook for jobs in Britain is worst than in any other country in Europe and beyond, fresh data has revealed as the pandemic continues to hit people’s pockets and prospects.
Jobs in hospitality and retail continue to be hammered by the fallout from the coronavirus pandemic as sporadic lockdown restrictions look set to roll on into early next year.
London in particular is suffering amid the pandemic, with the outlook for jobs in the capital by mid-2021 the worst on record, according to the research.
Prospects in the jobs market are also becoming increasingly divided across different industries, with ‘sharp improvements’ in the construction, finance and business sectors in terms of openings.
Outlook: Jobs market outlook across a number of countries early next year
Last month, Chancellor Rishi Sunak warned that the ‘economic emergency’ stemming from the pandemic had only just begun, with the Office for Budget Responsibility predicting that UK’s unemployment rate will climb to 2.6million people, or 7.5 per cent by mid-2021.
To date, over 250,000 job losses or potential redundancies have been announced since the start of the pandemic earlier this year, according to the Press Association.
While the outlook for jobs remains worrying, Britain’s jobs outlook has ‘rebounded six points in the last six months to -6%’, according to the latest ManpowerGroup Employment Outlook Survey.
But, ManPower said that people’s jobs prospects in Britain remain ‘disappointing’ when compared against other countries across Europe, with the UK still at the bottom of the pile.
Mark Cahill, managing director of ManPower UK, said: ‘The headline numbers are steadily moving in the right direction, and we are seeing a continued resurgence in key sectors like finance and business giving us reasons to be cheerful as we head into 2021.
‘However, despite this positive trajectory, the UK remains the least optimistic in Europe, with continued uncertainty over Brexit and the effects of a second Covid-19 wave still looming large.
‘Looking further ahead, our data also shows that only 49% of employers expect their hiring to return to pre-pandemic levels within the next 12 months.’
Demise: Topshop, part of the Arcadia group, has seen its troubles exacerbated by the pandemic
The outlook for the jobs market in the retail and hospitality sectors dropped further in recent months and now stands at the ‘weakest’ level on record, ManPower said.
Mr Cahill said: ‘The further decline of Britain’s high streets is deeply concerning.
‘Shops, restaurants, and bars have remained mostly shut across the country, and the young people who make up a large proportion of workers in this sector have often borne the brunt.
‘Stalwarts like Pret a Manger and TM Lewin are closing their doors as demand for quick lunches, smart shirts and suits has dried up, while Caffe Nero is on the brink of insolvency.’
The demise of well-known brands like Debenhams and Arcadia has been accelerated by lockdown shutdowns, with 25,000 people now at risk of losing their job at these two companies alone.
ManPower said the pandemic has also accelerated the switch from a ‘London-centric’ economy, with swathes of local cafes and restaurants suffering as workers steer clear of the capital and employers turn their focus to remote working.
While many sectors in the capital and beyond are struggling, hiring in sectors like finance is on the up.
Mr Cahill said: ‘Despite a tough year, many financial services firms have been able to adapt quickly to remote working, and this is most evident from the sector’s medium sized businesses.
‘There is also strong demand for business admin, HR, and management roles as more businesses prepare for long-term remote work and for the EU-Exit.’
Pent-up demand has also triggered an upturn in job prospects within the construction sector, coinciding with a ‘mini-boom’ in the housing market, which a growing number of experts think could pop next year.
ManpPower said that migrant workers had been particularly hard hit by the fallout from Covid-19, and nearly half a million have left the UK since March.
For many workers in Britain, the end of the Government’s furlough scheme at the end of March next year could spell a further rise in the number of mass job cuts emerging, as employers look to cut costs and stay afloat.
Jobs lost or at risk since lockdown
Here is a list of some of the high-profile British employers which have announced major cuts since March 23, according to the Press Association:
December 1 – Debenhams – 12,000 at risk
November 27 – Arcadia Group – 13,000 at risk
November 26 – Mitchells & Butlers – 1,300
November 19 – E.On – 700
November 17 – Johnson Service Group – 1,550
November 12 – WH Smith – 200
November 9 – Reach – 150
November 5 – Sainsbury’s – 3,500
November 5 – Caterpillar – 700
November 4 – John Lewis Partnership – 1,500
November 4 – Lloyds – 1,070
October 29 – Pizza Express – 1,300
October 27 – Revolution Bars – 130
October 16 – Pret a Manger – 400
October 15 – Marston’s – 2,150
October 14 – Gourmet Burger Kitchen – 362
October 9 – Edinburgh Woollen Mill – 24,000 at risk
October 8 – National Trust – 1,300
October 8 – HSS Hire – 300
October 7 – Manchester Airport Group – 892
October 7 – Greene King – 800
October 6 – Virgin Money – 400
October 6 – Vp – 150
October 5 – Cineworld – 5,500 (many cuts likely to be temporary)
September 30 – TSB – 900
September 30 – Shell – 9,000 worldwide
September 29 – Ferguson – 1,200
September 22 – Wetherspoon – 400 to 450
September 22 – Whitbread – 6,000
September 18 – Investec – 210
September 15 – Waitrose – 124
September 14 – London City Airport – 239
September 9 – Lloyds Bank – 865
September 9 – Pizza Hut – 450
September 4 – Virgin Atlantic – 1,150
September 3 – Costa – 1,650
August 27 – Pret a Manger – 2,800 (includes 1,000 announced on July 6)
August 26 – Gatwick Airport – 600
August 25 – Co-operative Bank – 350
August 20 – Alexander Dennis – 650
August 18 – Bombardier – 95
August 18 – Marks & Spencer – 7,000
August 14 – Yo! Sushi – 250
August 14 – River Island – 350
August 12 – NatWest – 550
August 11 – InterContinental Hotels – 650 worldwide
August 11 – Debenhams – 2,500
August 7 – Evening Standard – 115
August 6 – Travelex – 1,300
August 6 – Wetherspoons – 110 to 130
August 5 – M&Co – 380
August 5 – Arsenal FC – 55
August 5 – WH Smith – 1,500
August 4 – Dixons Carphone – 800
August 4 – Pizza Express – 1,100 at risk
August 3 – Hays Travel – up to 878
August 3 – DW Sports – 1,700 at risk
July 31 – Byron – 651
July 30 – Pendragon – 1,800
July 29 – Waterstones – unknown number of head office roles
July 28 – Selfridges – 450
July 27 – Oak Furnitureland – 163 at risk
July 23 – Dyson – 600 in UK, 300 overseas
July 22 – Mears – fewer than 200
July 20 – Marks & Spencer – 950 at risk
July 17 – Azzurri Group (owns Zizzi and Ask Italian) – up to 1,200
July 16 – Genting – 1,642 at risk
July 16 – Burberry – 150 in UK, 350 overseas
July 15 – Banks Mining – 250 at risk
July 15 – Buzz Bingo – 573 at risk
July 14 – Vertu – 345
July 14 – DFS – up to 200 at risk
July 9 – General Electric – 369
July 9 – Eurostar – unknown number
July 9 – Boots – 4,000
July 9 – John Lewis – 1,300 at risk
July 9 – Burger King – 1,600 at risk
July 7 – Reach (owns Daily Mirror and Daily Express newspapers) – 550
July 6 – Pret a Manger – 1,000 at risk
July 2 – Casual Dining Group (owns Bella Italia and Cafe Rouge) – 1,909
July 1 – SSP (owns Upper Crust) – 5,000 at risk
July 1 – Arcadia (owns TopShop) – 500
July 1 – Harrods – 700
July 1 – Virgin Money – 300
June 30 – Airbus – 1,700
June 30 – TM Lewin – 600
June 30 – Smiths Group – “some job losses”
June 25 – Royal Mail – 2,000
June 24 – Jet2 – 102
June 24 – Swissport – 4,556
June 24 – Crest Nicholson – 130
June 23 – Shoe Zone – unknown number of jobs in head office
June 19 – Aer Lingus – 500
June 17 – HSBC – unknown number of jobs in UK, 35,000 worldwide
June 15 – Jaguar Land Rover – 1,100
June 15 – Travis Perkins – 2,500
June 12 – Le Pain Quotidien – 200
June 11 – Heathrow – at least 500
June 11 – Bombardier – 600
June 11 – Johnson Matthey – 2,500
June 11 – Centrica – 5,000
June 10 – Quiz – 93
June 10 – The Restaurant Group (owns Frankie and Benny’s) – 3,000
June 10 – Monsoon Accessorize – 545
June 10 – Everest Windows – 188
June 8 – BP – 10,000 worldwide
June 8 – Mulberry – 375
June 5 – Victoria’s Secret – 800 at risk
June 5 – Bentley – 1,000
June 4 – Aston Martin – 500
June 4 – Lookers – 1,500
May 29 – Belfast International Airport – 45
May 28 – Debenhams (in second announcement) – “hundreds” of jobs
May 28 – EasyJet – 4,500 worldwide
May 26 – McLaren – 1,200
May 22 – Carluccio’s – 1,000
May 21 – Clarks – 900
May 20 – Rolls-Royce – 9,000
May 20 – Bovis Homes – unknown number
May 19 – Ovo Energy – 2,600
May 19 – Antler – 164
May 15 – JCB – 950 at risk
May 13 – Tui – 8,000 worldwide
May 12 – Carnival UK (owns P&O Cruises and Cunard) – 450
May 11 – P&O Ferries – 1,100 worldwide
May 5 – Virgin Atlantic – 3,150
May 1 – Ryanair – 3,000 worldwide
April 30 – Oasis Warehouse – 1,800
April 29 – WPP – unknown number
April 28 – British Airways – 12,000
April 23 – Safran Seats – 400
April 23 – Meggitt – 1,800 worldwide
April 21 – Cath Kidston – 900
April 17 – Debenhams – 422
March 31 – Laura Ashley – 268
March 30 – BrightHouse – 2,400 at riskMarch 27 – Chiquito – 1,500 at risk
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