19 May 2020
Matthew Fell, CBI Chief UK Policy Director, said:
“The data for the first few weeks of the COVID-19 crisis reveals sharp falls in vacancies and hours worked, coupled with soaring benefits claims. While employment shows a smaller decline, pointing to the early success of the job retention scheme, the severe impact of the pandemic on the UK labour market is already becoming clear.
“Looking ahead, how the job retention scheme evolves in line with restarting the economy will have a big impact on jobs and earnings. Extending it until October was a bold decision, giving businesses and workers medium-term security. Now, greater flexibility is needed to help businesses slowly bring people back to work where it is safe to do so.”