Survey notes that 12% of workers are still seeking work as programme ends
Tuesday, August 25, 2020
Approximately one in eight workers will now be left behind after job security systems are liquidated, according to current figures.
The Office for National Statistics (ONS) said its latest quarterly survey of the damage the coronavirus was doing to UK businesses showed that 12 per cent of its workforce was still in fear.
Extension of the programme to severely affected sectors in the economy, in particular retail and hospitality.
According to this study, two-thirds of the workers, around 67%, achieved top-up payments from their employers above the 80 percent contribution of the state.
Next month the government will set aside only 70 percent of pay, and this will drop to 60 percent last October, before the aid program expires.
Chloe Gibbs, the ONS senior statistics officer, said: 'Despite recent economic news, it is encouraging to see that four in five businesses say they are at no or low risk of going bust.
10% of companies questioned also said they face a 'moderate' risk of insolvency, while 1% described the risk as 'severe'.
Around 77% of the businesses admitted there was less than or little risk of them being forced into insolvency.