The latest unemployment figures from the Office for National Statistics. The number of people on UK payrolls in August was about 695,000 lower than in March 2020.
In the May to July quarter there was a particularly significant drop in the number of young people in employment. Overall, the unemployment rate grew to 4.1%, up from the previous figure of 3.9%. However, the ONS said the number of job vacancies continued to recover into August, fewer workers were on furlough and average hours worked rose. Read more on the ONS website too.
Call for furlough 2.0
The furlough scheme comes to an end on 31 October, meaning those job numbers could get much worse. Labour leader Sir Keir Starmer is urging the government to replace it with a new system. It would be similar to that in Germany – explained here – rewarding employers who give people hours rather than cut jobs; providing training and support for those who can’t come back full time, and targeting sectors most in need such as retail and aviation. The government says it’s already implementing a plan to protect jobs – here we consider the likelihood of any extension to that.
Original Article by BBC – Source