Documents Ventura, Maria 3 results

"Six months after Covid-19 first hit, it is clear that it is the greatest economic crisis of the modern age. The economy has contracted far more rapidly than in previous crises, with GDP dropping by a record 19.5 per cent in April, and despite four subsequent consecutive monthly increases since then, remaining 9.2 per cent below the February 2020 level in August. Early indicators suggest at best a slow recovery that is stalling as the country faces a new wave of cases and harsher and localised restrictions on economic activity.

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"Almost a year into the Covid-19 crisis, it has become widely acknowledged that UK self-employment has been particularly hard hit. Here we continue our series investigating the experience of self-employed workers throughout the crisis. Surveying workers in early February 2021, we find that incomes among the self-employed in the third lockdown are still significantly below pre-crisis levels, and are broadly similar to those of the first lockdown. While government support has been a lifeline for some, we illustrate that important gaps in support remain."

"A year and a half into the Covid-19 pandemic, growth and economic recovery are the latest watchwords amongst labour market commentators in the UK. In this report we continue to monitor the situation of the self-employed in this new economic phase. A survey conducted in September 2021 reveals that although self-employed have seen some improvement since January 2021, incomes and profits are still below pre-crisis levels. Claims for targeted government support have dropped, partly because of increased uncertainty around eligibility. Overall, the results show an unequal impact of the Covid-19 crisis on the self-employed."