Weekly Economics Podcast: Can we avoid a tsunami of job losses?

It feels like every day there are new dire predictions of the state of the UK economy and jobs. Last week we discovered that the number of paid employees in Britain has plunged by 650,000 since the start of the pandemic. As the furlough scheme winds down, the Office for Budget Responsibility says 1.4 million furloughed people are at risk of unemployment. And almost a third of companies plan to cut jobs in the next three months.

So, did the job retention scheme save jobs or just delay the inevitable? How are unions supporting workers during this time? And what can we do to avoid a tsunami of job losses?

In this episode of the Weekly Economics Podcast Ayeisha Thomas-Smith is joined by Alfie Stirling, Head of Economics at the NEF and Nikki Pound, Policy and Campaigns Support Officer at the TUC.

If you’re itching for more discussion on how unions are organising for the end of furlough, we’re hosting a Zoom briefing on that very topic this Thursday 23rd July. The sign up here.

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Image: J J Ellison (CC BY-SA 3.0)