Stuart Gentle Publisher at Onrec

Budget reaction: CV-Library's CEO says it will take 12-18 months for job market to recover

Lee Biggins, founder and CEO of CV-Library, comments:

"Sunak's summer statement offers some hope to young people and those who are on the furlough scheme. However, it's always going to be met with criticism. The ongoing extensions to the Job Retention Scheme have been a lifesaver for businesses that are struggling, but it is also, sadly, delaying the inevitable; redundancies and mass unemployment.

"Employers are working harder than ever to keep people on their books and ensure that there's a job available to them once furlough ends. With the introduction of trainee programmes for young people, and more funding for apprenticeships, businesses will be encouraged to create employment opportunities for 16-24 year olds; but whether they make them remains to be seen.

"We know that organisations are struggling in a huge range of sectors. Job numbers are slowly picking back up, but they're nowhere near the levels that they were pre-pandemic. It's great to see the Chancellor focus his budget on jobs, but we must remember that, providing a second wave is kept at bay, it's going to take at least another 12 to 18 months for the job market to recover from COVID-19."