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

 Analysis: End of furlough brings uncertainty for UK jobs and economy
  • 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 needed to put in,” said Sabby Gill, chief executive of human resources software firm Thomas International, which furloughed staff until the start of this…

Read full article…www.reuters.com