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BoE's Bailey says key challenge is to get workers into jobs

08/05/2021 | 08:47am EDT
FILE PHOTO: Financial and Professional Services Address in London

LONDON (Reuters) - Bank of England Governor Andrew Bailey said a key challenge facing Britain's economy was to get people back into work as the coronavirus pandemic fades.

"The challenge of avoiding a steep rise in unemployment has been replaced by that of ensuring a flow of labour into jobs. I want to emphasise that this is a crucial challenge," Bailey told a news conference after the BoE's latest policy announcements and economic forecasts.

The BoE did not expect to see a spike in unemployment when finance minister Rishi Sunak's job-protecting furlough scheme is phased out at the end of September, Bailey said.

(Reporting by David Milliken and William James; Writing by William Schomberg and Costas Pitas; Editing by Toby Chopra)

ę Reuters 2021
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AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) 0.12% 0.53105 Delayed Quote.-5.43%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) 0.03% 0.578175 Delayed Quote.0.04%
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INDIAN RUPEE / BRITISH POUND (INR/GBP) -0.03% 0.009913 Delayed Quote.-1.44%
US DOLLAR / BRITISH POUND (USD/GBP) 0.01% 0.731593 Delayed Quote.-0.34%
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