GDP: Protect and create jobs for a faster recovery, says TUC

Commenting on today’s monthly GDP figures, which show UK GDP plummeting 20.4% in April due to the impacts of the lockdown, TUC General Secretary Frances O’Grady said:

“If we act now, we can stop deep damage becoming lasting damage. The government must work closely with unions and business to get the next steps right.

“The national recovery plan must prioritise protecting and creating jobs. The more people in work, the faster we will work our way out of recession.

“The government should set up a national recovery council with unions and business to plan how we can build back better. We need targeted support for hard hit sectors of the economy, and a jobs guarantee to help those who do lose work.”

TUC research published this morning (see notes below) finds that two sectors of the economy are at much great risk of shedding jobs than other sectors - ‘accommodation and food’ and ‘arts, entertainment and recreation’.

Both have much higher rates of furloughed workers, lost turnover, and paused trading than other industrial sectors.

They both also have the highest proportions of young workers, making a job guarantee scheme to prevent long-term youth unemployment a crucial part of the national recovery plan.