October 20, 2021
Economy

Analysis: End of furlough brings uncertainty for UK jobs and economy

Workers walk towards Tower Bridge in London, Britain, September 15, 2021. REUTERS/Toby Melville/File Photo

  • UK’s COVID-19 furlough programme to stop on Sept. 30
  • Over a million UK workers still receiving support
  • BoE and economists split on outlook for unemployment
  • Employers report record job vacancies and skills shortages

LONDON, Sept 28 (Reuters) – More than a million British workers face an uncertain future this week as the UK becomes the world’s first big economy to wind up its COVID-19 jobs support scheme.

The programme, which at its peak paid a third of employees to stay at home, cost more than 68 billion pounds ($93 billion) – the most expensive single piece of UK economic support during the pandemic.

It also marked a sharp shift in policy in Britain where unemployment benefits are low by European standards.

“I think it’s been an absolute lifesaver … and was exactly what the government…

Read full article here: www.reuters.com