Latest ONS data | What can staff do with rising job losses?

What can staff do with rising job losses?

The UK unemployment data has hit its highest rate in three years – sitting at 4.5% in the three months to August.

In addition, redundancies rose to their highest level since 2009, the Office for National Statistics said.

As Jack Kennedy, UK economist at the global job site Indeed, commented: “The pandemic’s human cost, in jobs lost and livelihoods impacted, is slowly being laid bare. The number of people claiming benefits has surged to 2.7 million and two thirds of a million fewer people are working now compared to March."

So, in the event that an employee does receive the devastating news that they are out of a job, what should they do?

Hema Bakhshi, an Advisor for the FSC and the former Director of the Future of Work at Santander, told HR Grapevine that often businesses forget how resourceful people are.

“We are intrinsically creative beings who can generate ideas and create value,” she added.

If an employee is out of a job, Bakhshi said that they should take some time to think about how they want to upskill themselves, the direction they want to take their career, and how they can get support to help them achieve this.

“This can feel really overwhelming when you’re alone, but that doesn’t have to be the case. It may be that this is the push needed to start a freelance career or even explore your side hustle," Bakhshi continued.

“By drawing on your own skills, honing your superpower, and having clarity on the impact you want to make, new possibilities can open up."

In addition to this, the National Career Service explained that when an employee loses their job, it can often cause a wealth of stress and worry.

The Government site advised employees who have been made redundant to see if they are eligible for benefits and learn how to manage their money on a reduced income.

The site also recommended that people should look to retrain or reskill and stay in touch with old friends and colleagues to see if this could open up any opportunities.

Indeed’s Kennedy also implied that hope shouldn’t be lost.

“This is far from a labour market in freefall. New jobs are being created, and in the three months to the end of September, the total number of vacancies jumped at a record-breaking pace," he said.

“Indeed’s data shows that the sector burning brightest is construction. A mini-boom in building has seen the number of construction jobs listed on the site jump by 267% between May and the start of October.

“Other sectors seeing a rapid increase in recruitment include cleaning & sanitation, which saw vacancies rise by 148%, and production & manufacturing (up by 173%) during the same period.”

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