The unemployment rate rose nationally to 4.1 per cent in the three months to July – with young people aged 16 to 24 being the most affected.
Business leaders in Coventry and Warwickshire say the full scale of the rise in unemployment will be felt in the coming months after official figures released this week revealed it is at its highest level for two years.
The unemployment rate rose to 4.1 per cent in the three months to July – with young people aged 16 to 24 being the most affected.
Chancellor Rishi Sunak said “helping people get back into, or finding new work” is his “number one priority”.
Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said unemployment rates are “going to get worse before we can hope that they start to get better”.
“We know that once the furlough scheme finishes, we are going to see a further rise in unemployment”, she said.
The local business leader urged companies to get in touch with the Chamber for support in accessing the new Kickstart scheme to help get young people into the workplace.
She went on to express her support “in calling for a major cut in employer National Insurance Contributions” which would reduce the overall cost of employment.
Suren Thiru, from the British Chamber of Commerce, explained that the recent rise in job vacancies nationally likely represents a “temporary bounce … rather than a meaningful upturn in demand for labour”.