The UK’s jobs nightmare is only just beginning

The impact of this hidden unemployment surge varies not just between the private and public sectors but across different places, of course, with already deprived areas – including inner-cities and former industrial heartlands – suffering most.

There are now at least 50 claimant count unemployed chasing each job in places including Bolsover, Pendle, Rhondda, Telford, North Lanarkshire and the London borough of Barking and Dagenham, according to new research from the Institute for Employment Studies. The unemployed-to-vacancy ratio is, meanwhile, at most three to one in more prosperous localities, including Warwick, Lewes, Midlothian, Chichester and Stafford.

New government data shows 9.1 million workers were furloughed by 1.1 million employers up until the end of May. The state is paying 80pc of their wages, up to £2,500 per month, at a cost to the Treasury so far of £20.8bn.

The reality is that, as the scheme ends over the summer, and more costs shift to businesses, many furloughed workers could be laid off, sending unemployment spiralling to the mid-teens or even higher.

If you think that’s alarmist, consider a recent YouGov poll of 500 business leaders across the country.