Back ‘V fast’

Jobs fall by 2/3 in year Firms’ plea on furlough We could be

NEARLY two-thirds fewer jobs were advertised in the last three months than in the same time a year ago.

And the average pay offered in sectors such as leisure and tourism fell by almost 20%.

Job search website CV-Library says 62% fewer roles were available.

Boss Lee Biggins said: “The figures are pretty bleak. Naturally, some industries and locations have been more affected.”

Worst hit was Aberdeen, with 80% fewer vacancies.

But Mr Biggins added: “It’s showing signs of recovery, albeit very slowly.”

Analysts fear by next year unemployment will treble, to more than four million.

BUSINESS leaders are calling for an extension of the furlough scheme in certain sectors to prevent huge job losses.

A study shows 53% of manufacturing firms are planning cuts this year, up from 25% two months ago.

Trade group Make UK says a failure to extend it by six months would trigger redundancies “on a scale not seen since the 1980s”.

CEO Stephen Phipson said: “As well as the distressing personal impact on livelihoods, industry cannot afford to lose these high-value skills which will be essential to rebuilding our economy and investing in industries of the future.”

A SWIFT economic recovery from coronavirus is still possible, says Britain’s top number-cruncher.

Experts’ hopes of a quick bounce back from the Covid-19 disaster dwindled after the economy only recovered by 1.8% in May.

But Professor Sir Ian Diamond said a V-shaped rise – where a sharp fall is followed by a sharp rise – could still happen.

He said: “We saw some indication – manufacturing, construction, both up 8%.

People are more likely to go to restaurants now, he added, so the economy will pick up. “But how fast with that V-shaped recovery, it’s too early to tell,” he said.