The extraordinary impact of Covid-19 on the jobs market

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Smart Money: The situation is unprecedented and much remains unclear, writes Cliff Taylor (CliffTaylorIT)

Politically, one of the striking figures in the CSO survey is that just 8 per cent of those laid off in quarter two and who are now on the PUP do not expect to return to their previous employment. Photograph: iStock

Quarterly jobs figures are usually one of the best ways of taking the pulse of the economy. While the latest figures have been complicated hugely by the impact of Covid-19, they are quite simply extraordinary and do give a clear indication of how jobs are being hit, who is being affected – and what may happen next. In a simply unprecedented situation, much remains unclear. But here is what we know so far.The jobs figures are hard to interpret.

 

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