Coronavirus Update: UK jobs market facing worst outlook in almost 30 years

The UK faces its worst outlook for jobs in nearly 30 years, with sharp falls in businesses’ hiring expectations across all sectors of the economy, according to a long-running survey, Ben Chapman reports.

Nearly half of employers reported that 50 per cent or more of their normal business activities have been suspended as a result of coronavirus.

Recruitment firm ManPower’s quarterly poll has been running since 1992 and is among a broad set of the indicators looked at by the Bank of England and the government when formulating their own forecasts.

It asks employers whether they think they will take on more staff or let more go in the next three months. In the latest of the series, published on Tuesday, a net balance of -12 per cent said they would reduce numbers — the worst outlook ManPower has ever recorded.

Transport and communications is the worst-affected sector, according to the survey, with a reading of -22 per cent, followed by finance and business services on -16 per cent.