Lockdown will cost a QUARTER of UK jobs as 6.5 MILLION positions are to be axed with the hospitality industry set to be crippled by coronavirus crisis, research says

‘Britain’s coronavirus lockdown will take more than 6.5million jobs out of the economy, according to estimates contained in a new study.

Research by the Institute for Social and Economic Research at the University of Essex says this equates to around a quarter of the UK’s total jobs, with more than half the positions in certain sectors to be lost.

It comes as the Government was warned support for businesses during the coronavirus pandemic must come faster if people’s livelihoods are to be saved.

Accommodation and food services are predicted to suffer the worst rate of cuts, with 75.1 per cent of jobs lost, or around 1.3million positions.

Ranked second was ‘other services’ at 50.2 per cent, ahead of ‘wholesale, retail and repair of motor vehicles’ at 47.6 per cent – or roughly two million jobs.

Next came transport and storage on 44 per cent, or some 700,000 positions, before a gap to ‘administrative and support services’, at 26.5 per cent.

The study shows the knock-on effects of certain industries on other sectors, with the agriculture, forestry and fishing sector tipped to lose one job in 10 due to reduced demand from the accommodation and food sector.

Among sectors losing jobs, those faring best in the study were public administration/defence/social security (1.5 per cent), real estate (1.6 per cent), and mining, energy and water supply (2.7 per cent).

Certain sectors showed an increase in their workforces, chiefly health and social work, with a 27.1 per cent rise, and ‘professional, scientific and technical activities’ (up 3.4 per cent).’