We find that more than half of workers who were furloughed during the March to June lockdown period had returned to work, with nearly one-in-three remaining on full or partial furlough, and a significant minority (9 per cent) having moved out of work. 2/10
These figures vary for different groups of workers: nearly one-in-five (19%) of surveyed 18-24-year-olds furloughed during lockdown have not returned to work, along with 22 per cent of those from BAME backgrounds. 3/10
Self employed workers have been particularly hard hit by this crisis: 10 per cent of those who were self-employed in February are now either unemployed or economically inactive (compared against 4 per cent of those who were employees). 4/10
And turning to unemployment, our survey suggest it is rising most among the youngest workers. 5/10
But so far, this crisis has been very different from recessions in the recent past: it appears that rising unemployment is driven more by fewer people who are out of work flowing into work – rather than a large swathe of job losses happening at once. 6/10
43 per cent those who lost a job between Feb. & Sept. have returned to work; including just one-third of 18-24s. In fact, younger workers have experienced something of a double whammy: more likely than average to have a lost a job, and less likely than average to return. 7/10
Workers from the hardest hit sectors are still looking for work in these sectors – underscoring the difficulty of career change (not least during a pandemic). 8/10
Turning to the future, job worries are both big and broad-based. 9/10
These challenges require a multi-pronged approach: building on welcome policy announcements and going even further. 10/10
(And of course, expect more on the living standards effects of this crisis from @resfoundation over the coming weeks)
You can follow @kathleenhenehan.
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