The Job Retention Scheme has provided vital support for millions of workers, and kept a lid on job losses. But with the country in a renewed lockdown, the combination of rising unemployment and long lasting furlough means an unprecedented number of people who have done little to no work in nearly a year. Previous recessions have taught us the impact of such worklessness can far outlast the downturn itself. What has been the labour market impact of this winter lockdown? How many workers have been furloughed or unemployed throughout the crisis so far? What are the potential long-term impacts of this for workers’ prospects? And what more does the Government need to do to reduce the lasting damage of this labour market crisis? To mark the third, labour market focused, report in our recovery series, the Resolution Foundation is hosting an interactive webinar to debate and answer these questions. Following a presentation of the report’s key findings, we will hear from MPC member Michael Saunders and Professor Abi Adams-Prassl on the immediate and longer term impact of Covid-19 on workers. Viewers will be able to submit questions to the panel before and during the event. Our recovery series examines the challenges facing four key areas of the economy, ahead of the Chancellor’s Budget. The other events in the series are: Building back business: With revenues down and debt up are firms ready to power the recovery?, 3:30-4:30pm, Wednesday 10th February Resolving rents: Tackling Britain’s rent arrears crisis, 11-12pm, Tuesday 16th February Budgeting for Britain’s economic recovery, (feat. Shadow Chancellor Anneliese Dodds and Treasury Select Committee Chair Mel Stride, 11-12pm, Thursday 25th February
