UK job vacancies climb past pre-pandemic levels
In the last three months, the number of job vacancies in the UK surpasses the pre-pandemic levels. It’s believed that the UK is in the most significant recovery of the country’s history. The Pandemic was challenging for many businesses, but most of those companies recovered fully.
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Economic recession in UK
The economic situation during the Covid Pandemic in the UK was not good. We saw many businesses shut down due to lockdowns and restrictions on various business sectors. Pandemic has caused a significant shift in the number of job vacancies. Pandemic turned rapid, and many people are now more prepared for long term survival. Reports suggest that over 50% of businesses shut down in London alone during the Pandemic. Experts believe that it would take some time before those companies recover.
Pandemic touched many business sectors
The UK economy could not resist the covid Pandemic. We saw a drop in the economy of the UK in 2020. Pandemic directly affected many industries such as services, banking, transportation and tourism. Pandemic also reduced the number of people on the job market. Many companies were offered a buy-out deal from workers who wanted to stay home during the Pandemic or those who could not travel because they were too ill. The Pandemic did have a positive impact on some areas. Still, overall it caused colossal damage globally – no one was safe, and it had spread throughout the entire world very quickly despite efforts done by UNSF & other organizations created just before this Pandemic occurred; Pandemic has destroyed countless lives.
Watch Bloomberg's intense and short video on how pandemic affected small businesses in UK & USA.
862 000 jobs in last three months
The latest report from BBC suggests that the UK added 862 000 jobs alone in the last three months. April, May and June were very successful for the UK companies. Compared to the previous year, it’s the most significant growth of the economy in the history of the UK. Experts suggest that the recovery of the economy will continue throughout the year.
Check the chart below - UK is reaching the record number of paid employees in the country.
The Biden-Harris administration registered another record.
The USA added 850 000 jobs in June. Indian Times wrote about the reasons behind the economic growth. The Pandemic was challenging for the USA. The covid Pandemic and lockdowns almost destroyed the economy of the country. There were few reasons behind the economic recession in the USA due to covid. The Pandemic severely affected the jobs market and people did not feel like going to work during the Pandemic. Pandemic had destroyed various sectors in the USA. Sectors such as the service industry, which includes hotels, restaurants, grocery stores, were damaged. The banking sector, which is extremely important for the economy of any country, was also badly affected. The Biden-Harris administration promised the USA residents to have a significant recovery along with the vaccination process. The vaccination campaign is going strong in the country. Therefore the economy is going up.