Chamber comment on employment statistics
Date published:
Niamh Corcoran, policy adviser, North East England Chamber of Commerce said:
“The employment statistics continue to show the impact the Coronavirus pandemic is having on the North East’s labour market. The region’s unemployment rate stands at 6.4%, significantly higher than the UK’s rate of 5%.
“Whilst the rollout of the vaccine offers a glimmer of hope, we remain firmly in the second wave of the pandemic. With many businesses in the hardest hit sectors having been closed since November, the long-term impacts of the second wave of this crisis will be acute. The North East went into this crisis with high levels of existing unemployment, leading the region to be disproportionately vulnerable to any national rise in joblessness.
“The government’s Job Retention Scheme, while acting as a lifeline for businesses, is buffering the impacts of heightened restrictions on the local labour market. With no end to restrictions in sight Government must urgently extend the Job Retention Scheme beyond March. Not only this, but the Chancellor should grasp the opportunity the forthcoming Budget offers and outline stronger business support to help employers retain staff and a comprehensive retraining strategy,in order to minimise the impact of unemployment.”