It is one year since the Government’s Plan For Jobs was launched - a comprehensive and ambitious plan to help people back into work, earn more and gain the right skills so they can compete for the future jobs of tomorrow. Through the Plan for Jobs, the whole of the UK Government is focused on protecting, supporting and creating jobs across the country.
Richard Fuller, MP for North East Bedfordshire, said:
One year on, our Plan for Jobs is working, Peak unemployment is now forecast to be two million fewer than previously feared with the latest OBR forecast for peak unemployment now at 6 per cent rather than the previously expected 12 per cent – that means two million fewer people out of a job than previously feared.
The labour market is performing strongly with job vacancies in June this year around 29 per cent higher than they were pre-pandemic. The number of people in jobs has also now grown for five consecutive months and people are rapidly coming off furlough. As the roadmap has progressed and the economy is beginning to unlock, we have seen furlough numbers decline from a peak of 11 million last year, to 5.5 million earlier this year, and to around 2 million at the end of June – outperforming expectations that 2 million people would still be on furlough at the end of September.
Other parts of the economy are showing signs of growth. Household incomes have been largely protected throughout the pandemic, consumer confidence has returned to pre-crisis levels, business confidence and intentions to invest are at historically high levels, and business insolvencies in 2020 were lower than in 2019.
Building on the action taken in the face of the immediate threat posed by the virus, the Government launched its Plan for Jobs on 8th July 2020, providing new funding to ensure more people can access tailored support to help them to find work. For more information on the Plan for Jobs, please visit this page.
The third phase of the government’s Plan For Jobs will be set out in the autumn with measures to support the longer-term recovery through a Budget and a Spending Review.
