BCC responds to ONS' September labour market figures

15th September 2020

Commenting on the ONS labour market figures for September 2020, published today, BCC Head of Economics Suren Thiru said:

“Despite the slight rise in the unemployment rate, the furlough scheme continues to limit the pandemic’s full impact on headline job figures.

"However, the decline in employees on payrolls and the rise in the claimant count in August as the furlough scheme began to taper is a clear warning that the full impact of Coronavirus on the UK labour market is yet to come.

“While there was a rise in the number of job vacancies, this is more likely to reflect a temporary bounce as the economy gradually opened, rather than a meaningful upturn in demand for labour. With many firms are still facing waves of cash flow problems, rising costs and an uncertain economic outlook, it is probable that unemployment will escalate sharply as government support winds down.

“To help avoid a damaging cliff edge for jobs more must be done help firms keep staff on through this deeply challenging period. This should include a significant cut in employer National Insurance Contributions and more substantial support for firms placed under local lockdowns.”

You might also be interested in

Local insurance broker’s advice for unoccupied properties during lockdown restrictions

Tue 29th September 2020

Many business premises across Sheffield remain unoccupied because of the impact of lockdown.

Professional Energy Purchasing launch energy-saving tips videos to help manufacturers save money

Thu 24th September 2020

Production-led businesses often incur massive energy costs so several small cost-cutting efforts can add up to a significant saving. Energy Partner Professional Energy Purchasing has created this video to help members cut energy costs down.

BCC responds to Chancellor’s Winter Economic Plan

Thu 24th September 2020

Responding to The Chancellor of the Exchequer Rishi Sunak MP’s announcement of a Winter Economic Plan, including a new raft of measures to support businesses and the economy as the pandemic continues, BCC Director General Adam Marshall said:

Fast-tracked business Covid rescue plan for Sheffield City Region unveiled

Wed 23rd September 2020

One of the single biggest COVID rescue packages of its type in the UK is hoping to save thousands of jobs and transform the business economy of South Yorkshire.