Economic impact of coronavirus
In 2020 COVID-19 caused the most severe contraction in the UK economy for over 300 years. Although some of this ground has since been made up and vaccinations mean we can begin to be more confident about a road to recovery, it is likely that the impact of the pandemic on businesses, jobs and households will continue to be felt in the months and years ahead, with at least some permanent scarring to the economy. In addition, public finances have been stretched to an extent not seen since World War II.
Furthermore, existing inequalities have widened during the pandemic, with the low-paid and already vulnerable groups disproportionately affected across a range of socio-economic and health measures.
An Economic Update summarising some of the impacts of the pandemic on Herefordshire's economy and labour market, as well as wider economic intelligence, can be downloaded from the related documents box opposite.