Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Around 5 million UK jobs still furloughed at end of July, government says

share with twitter share with LinkedIn share with facebook
09/18/2020 | 08:11am EDT
FILE PHOTO: The outbreak of the coronavirus disease (COVID-19), in London

Around 5 million British jobs remained fully or partly on furlough at the end of July, down from a peak of just under 9 million but still leaving millions of workers facing uncertainty with the scheme due to be wound up at the end of next month.

Provisional tax data released on Friday showed employers had registered 4.8 million jobs as furloughed as of July 31, down from a peak of 8.9 million in early May.

The government said final data could show an upward revision of around 10%, making it likely that 5.3 million jobs were still furloughed at the end of July.

Since July employers have been able to bring furloughed staff back part-time, but still claim furlough payments for the hours when staff are not working.

The 4.8 million jobs registered as furloughed included 950,000 where staff are now back working part-time but less than their usual hours, the finance ministry said.

Finance minister Rishi Sunak has resisted calls to extend the Coronavirus Job Retention Scheme beyond the end of October but has said he will be "creative" in finding ways to minimise any future rise in unemployment.

"These figures show the success of our furlough scheme -- making sure people's jobs are there for them to return to," he said on Friday.

Budget forecasters expect the programme to cost around 54 billion pounds ($70 billion) over its eight-month lifespan.

Use of the scheme has varied widely across sectors, with more than 40% of staff in the hospitality sector still furloughed, but only a small fraction of those in sectors such as finance or IT where it is easier to work from home.

Britain's official jobless rate rose slightly to 4.1% in the three months to the end of July, and the Bank of England has forecast it will hit 7.5% by the end of this year.

Less comprehensive but more timely survey data from the Office for National Statistics suggests the number of furloughed workers continued to fall through August but remained high.

The Resolution Foundation think-tank estimated, based on the ONS data, that around 3 million people were furloughed at the end of August.

($1 = 0.7707 pounds)

(Reporting by David Milliken, Editing by Andy Bruce and Catherine Evans)


share with twitter share with LinkedIn share with facebook
Latest news "Economy & Forex"
06:13pEU's Vestager working on criteria to define market influence
RE
06:10pHoliday shoppers are coming to town with health checklist, survey shows
RE
06:06pPakistan's parliament urges government to withdraw envoy from France
RE
06:01pCalais is Brexit-ready, but many businesses are not - French customs
RE
06:00pMONTERO MINING AND EXPLORATION : Appoints Jean des Rivières to its Board of Directors
PU
05:56pSpain's coronavirus death toll rises to 35,031 on monday from 34,752 on friday, health ministry data show
RE
05:56pSpain's coronavirus tally rises to 1,098,320 on monday from 1,046,132 on friday, health ministry data show
RE
05:55pU S DEPARTMENT OF TREASURY : Treasury Sanctions Key Actors in Iran's Oil Sector for Supporting Islamic Revolutionary Guard Corps-Qods Force
PU
05:45pCanada's Ontario province sets November 5 date to release 2020 budget
RE
05:33pU.S. CDC reports 224,601 deaths from coronavirus
RE
Latest news "Economy & Forex"