The Government acted with speed and at unprecedented scale to protect businesses, jobs and incomes during the crisis, and to minimise the long-term economic damage.
Nonetheless, the pandemic is clearly having a seismic impact on the labour market. The lockdown introduced in late March was necessary to slow the spread of the virus, but it has had a significant impact on the economy, leading to a sharp increase in unemployment. There were 2.5 million applications for Universal Credit during March and April alone, and more than 8 million workers have been furloughed.