Surveys Indicate Signs of Strain Among UK Businesses

The latest survey by REC indicates that the job market in the UK went into an abrupt freeze mode during April as a result of the lockdown

Surveys Indicate Signs of Strain Among UK Businesses

The latest survey by REC indicates that the job market in the UK went into an abrupt freeze mode during April as a result of the lockdown. Demand for staff fell at the fastest pace on record and responding companies have cautioned that it could take a long time for businesses to recover from the shock of the pandemic.

According to vice chair at KPMG, James Stewart, “The COVID-19 pandemic continues to wreak havoc on the UK jobs market with a record drop in vacancies and recruitment plans frozen.”

Other surveys also reveal a bleak outlook among businesses for the coming year. While around 50% of companies surveyed by IoD expressed hope that they could resume pre-pandemic levels of activity with social distancing measures in place, around 20% stated that such a move would cause a reduction in capacity or possibly even prevent them from operating.

Over one third of companies surveyed by Make UK remarked that they did not expect normal trading to resume over the next 6 to 12 months after the pandemic is brought under control. Meanwhile, 17% of companies expected normalcy in operations to resume in more than a year.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

HFM

Doo Prime

XM

Best Forex Brokers