Approximately 2.6 million British employees, or around eight percent of the UK’s workforce, said that they are expecting to lose their jobs in the following three months due to the persevering economic downturn caused by the pandemic crisis.
A study conducted by the independent British think tank Resolution Foundation revealed that more than 1.9 million UK workers in January had either lost their jobs or got fully furloughed for more than six months, showing the lasting damage that coronavirus inflicted to the economy of the European nation.
Due to fears of British residents’ long-term unemployment, Rishi Sunak, the chancellor of the Exchequer, was urged to utilize Britain’s budget for next month to extend target aid for economic sectors that have been severely impacted by the pandemic.
Despite the British government’s effort in improving its vaccination program to help its economy recover from the stifling COVID-19 measures, Resolution Foundation’s report indicated that aside from the 1.9 million workers who were considered unemployed and furloughed, about eight percent of UK workers either expect to lose their jobs in the next three months or have been told that they would be made redundant.
“While the U.K.’s economic prospects are finally looking up, job insecurity remains high, particularly among those who have spent long periods not working, or who are currently furloughed,” said Resolution Foundation’s Senior Economist Nye Cominetti.
The research showed that the young and low-income workers in Britain have the greatest risk of losing their jobs because their positions are deemed as no longer needed by their employers.
Eight percent of the British workers’ population is equivalent to 2.6 million out of the UK’s total workforce of 32.5 million.
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