ÌÇÐÄTV

Social economy enterprises (SEEs) – such as cooperatives and social enterprises – comprise around 7% of UK employment. A published by the Institute for Employment Research (IER) found that SEEs weathered the storm of the 2008 Financial crisis better than other enterprises and were able to deliver inclusive growth, sustainable development and higher quality jobs. Moreover SEEs in Italy, Poland, Spain, Sweden and the UK provided faster jobs growth compared to other organisations. The resilience and jobs growth of SEEs in the wake of the 2008 Financial crisis should therefore be harnessed to support the current pandemic economic recovery.

Not even out of the health crisis, the UK is entering a jobs crisis. New data from the Office for National Statistics (ONS) shows a mixed picture of employment but with strong indications that employment is set to fall. The UK Government has done well to maintain employment levels to date but needs to be equally brave going forward and stick to its plan to create more good jobs in the UK.

New labour market data released by the UK’s Office for National Statistics (ONS) shows that the small rise in unemployment recorded in May has held. Unemployment has not yet risen because of the furloughing scheme. However, the collapse in job vacancies is being taken as a marker of the massive unemployment to come. The aggregate vacancy data masks some significant variations by occupation. Experimental data analysis by the ÌÇÐÄTV Institute for Employment Research (IER) reveals falling and increasing demand for different jobs in the UK labour market.

After only a few months, the global Coronavirus pandemic has affected workers worldwide in a profound way. Strict social distancing and lockdown measures around the world have halted daily activities, presenting a threat to the livelihoods of billions of workers who rely on their daily earnings in the informal sector.

The International Labour Organisation (ILO) estimates that almost 1.6 billion informal workers or nearly half of the global workforce are significantly affected by pandemic measures. In Indonesia, 55% of the workforce or around 70 million people work in the informal sector. Unregistered, unregulated and unprotected by secure employment contracts and social safety nets, informal workers are some of the most vulnerable in the labour market.

Since the start of the pandemic, the has described the numbers of individuals applying for Universal Credit as ‘unprecedented’ with 2.5 million applications since the lockdown in March. So with unemployment levels at an all-time high and global changes to work and labour markets as a result of the pandemic unavoidable, this is the time to think about enhancing the system of support and guidance in the UK. A system is needed that not only supports those out of work to return to the labour market, but also supports those who have had to change their role, and/or take on new roles. What seems likely is that most of those who are more able, more skilled and more adaptable will return to the labour market faster, whilst those who are less skilled and less resilient are more likely to struggle to return to the labour market.