The FT reported yesterday that one in five UK employers plan to make redundancies in the next three months.
The TUC is warning of 6 million fearing they will lose their jobs.
As the Guardian reports this morning, noting a new report:
The Resolution Foundation said 23% of employees aged 18-24 had been furloughed and a further 9% had lost their jobs completely. By comparison, among the least affected age group – those aged between 35 and 44 – 15% had been furloughed or lost their jobs.
Young people were also the most likely to have had their pay cut, with 35% earning less than they did at the start of the crisis and 9% earning more.
We are still in the phoney war when it comes to the coronavirus crisis. That may be true medically still, but I will leave that aside. What I am sure of is that economically we have seen almost none of the consequences as yet. And the biggest consequence is the largest mass unemployment for nearly a century.
There is only one way out of this. It is a Green New Deal.
This video from the Guardian is from last year, but it remains true now:
We hope the coronavirus crisis will pass.
But we will still have the climate crisis to address.
And we desperately need jobs in every constituency. That's what we designed the Green New Deal to deliver in 2008. It's much more relevant and required today. And it will be the only way out of the economic crisis that we are in.