UK economic revival under way but jobs concerns grow

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Guardian analysis shows hit to workers gathering pace despite boost from lockdown easing

Britain’s economy has begun to repair the damage from the coronavirus lockdown as restrictions are gradually lifted, despite mounting concern over the long-term damage to the jobs market, according to a Guardian analysis.

As the government prepares to scale back the furlough scheme from 1 August, the Guardian’s monthly tracker of economic news suggests the hit to employment and household finances is gathering pace. However, the easing of lockdown is enabling business activity and retail sales to return close to pre-pandemic levels, despite severe pressure remaining for the hardest-hit sectors of the economy.

Related: UK’s full economic recovery could take until 2024, says EY report

The coronavirus lockdown has prompted some of the UK’s most prominent companies to announce large-scale job losses. The aviation, automotive and retail sectors have been among the worst hit, as businesses adjust to dramatically reduced revenue projections.

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