Monday 28th September 2020
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Unemployment set to soar in Norfolk and Suffolk as furloughing ends

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Unemployment across Norfolk and Suffolk is set to peak at 120,000 as the government’s furloughing scheme comes to a close over the autumn, according to a new report. Consultants working for New Anglia LEP believe that this ‘middle case’ scenario involving a U-shaped recession is most likely and a slow return to economic growth. A ‘best case’ scenario with a quick return to growth and a V-shaped recession would involve nearer 50,000 job losses according to the estimates from Metro Dynamics.

A worst-case would involve a lingering L-shaped recession Currently around  183,400 staff are furloughed across Norfolk and Suffolk, some 27% of the total workforce of 680,000.

Chris Starkie, chief executive of New Anglia LEP, said: “There is little doubt that significant numbers of redundancies will be announced over the coming months as businesses find their ‘new normal’ and national support schemes come to an end. The impact of the pandemic across our economy has been profound and many of our region’s key sectors – including tourism, culture and health and social care – will have been severely affected.” He added: “We will work with our local partners to support businesses to restart and rebuild, help people to find the training and guidance they need and continue to support our further and higher education establishments.”

Last Updated ( Monday, 29 June 2020 08:28 )