No one’s finances have escaped the effects of this year’s crises – whether you’re a homeowner, pensioner, employee or self-employed.
The vaccine offers fresh hope and the start of a new year brings a new start. But what will the new year bring? We take a look at five charts that tell the story of 2020 and give an indicator as to what will happen next.
The jobs market will suffer long-term damage
Hiring dropped off a cliff when the pandemic broke out in March. As shown in the graph below, the number of available jobs more than halved between January and July. But the data, from jobs board Adzuna, suggests Britain’s jobs market is on the road to recovery.
However this will be skewed to sectors that have boomed during coronavirus, such as logistics and healthcare. Hiring in the worst hit industries – hospitality and the charity sector – is still 69pc and 43pc off January levels respectively. These areas will take much longer to recover.
If you work in a profession that has been devastated this year, you may be thinking about a career change. Here are six charts you should see before making the move.