State of the Nation: Crisis intensifies for employers and workers
- Scottish GDP contracted by 2.5% in Q1 as lockdown began.
- Scottish GDP may have shrunk by a massive 18.9% in April, as UK GDP contracted by 20.4%.
- OECD predicts UK to be worst-hit country in the developed world.
- KPMG forecasts -6.8% GDP growth in Scotland in 2020. Aberdeen (-8.6%) and Aberdeenshire (-8.5%) expected to be worst-hit regions.
- Scottish economy may not recover to pre-pandemic levels until 2023.
- 1 in 5 Scottish SMEs have adopted new digital technologies during the crisis.
- 628,000 workers have been furloughed in Scotland.
- Unemployment is estimated to be around 7%, nearly double the pre-pandemic, record-low jobless rate. Threats of mass redundancies in worst-hit sectors.
- Number of online job vacancies in the UK has halved.
- Indications of deterioration of physical and mental health and wellbeing of workforce. Before the crisis, significant minorities reported that their job had a negative impact on their physical health (25%) and mental health (30%).
For more, download our latest State of the Nation briefings below, which gathers all of the latest data and forecasts in one place.