REC response to ONS labour market stats, September 2020

This morning, the Office for National Statistics (ONS) published its latest labour market stats. These show that the number of employees on payrolls has continued to fall, and that there has been a large decrease in the number of young people in employment.

Neil Carberry, Chief Executive of the REC, responded:

“There are clear signs in this morning’s data that the real impact of COVID-19 on the labour market is starting to appear. The number of people in paid employment continues to fall, and redundancies have started to spike. There will be more in the coming months. The rise in unemployment for young people is also a particular concern, given the long-term effects youth unemployment can have. One bright point is the continued rise in vacancies, but while there are always jobs being created, businesses need quick, targeted help in order to keep staff on and boost hiring. Cutting employers’ National Insurance contributions would be one way to do this.

“It is important that we also focus on measures that will affect the economy in the long-term, as well as the short-term. Smooth trade relations with the EU are essential for the stability of the UK economy and the prosperity of many important industries – the government must secure a Brexit deal that allows this to continue.”

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