Boris Johnson said last week that “many, many job losses” were inevitable as a result of the economic fall-out from the pandemic. While this is true, bold government action can mitigate both mass unemployment and the coming climate crisis. What is needed is an ambitious green recovery plan that puts people to work and accelerates our transition to a zero carbon economy.
This is with reference to the grim news “Airbus restructuring will mean huge job cuts” (June 29). On 19 June, your daily had carried a report about BMW cutting 6,000 jobs. Companies across the world, including airlines and multinationals, are cutting down jobs due to low sales triggered by COVID-19. Expect millions of jobs to be lost, across all sectors of the global economy in the next few months, as demand slumps.
US employers added a substantial 4.8 million jobs in June, and the unemployment rate fell to 11.1%, as the job market improved for a second straight month, yet still remained far short of regaining the colossal losses it suffered this spring.
As the unemployed count rises, jobs have become the main currency of political debate around the economy.
The nature of the outbreak means women are more likely than men to lose or quit their jobs in vulnerable low-paying workplaces like bars, conference venues, hairdressing salons, hotels, pubs and restaurants, which faced extensive shutdowns.
The rate rose to 4.8%, surging by 0.3 per cent from last month and a full percentage from a year earlier.
US consumers continued to spend in July but the gains were much slower than the prior two months amid a surge in coronavirus cases, and confidence remained in a “depressed range,” according to new data released on Friday.
Singapore’s overall unemployment rate rose to 3.4% in August, official data showed, the highest since the middle of 2004 as businesses shed jobs due to the coronavirus pandemic.
Britain’s unemployment rate rose by more than expected to 4.5% in the three months to August, its highest in more than three years, even before the end of the government’s broad coronavirus job protection plan.