interactive investor comments on latest furlough scheme statistics.
Furlough numbers have fallen to their lowest level this year, according to official statistics published today, as the number of people relying on the scheme fell to 3.4 million.
Commenting, Myron Jobson, Personal Finance Campaigner, interactive investor, says: “The weaning-off process has well and truly begun, with many Britons returning to work following the easing of Covid restrictions in recent months. But there is still a long way to go to get the remaining 3.4 million back to work before the scheme is wound up at the end of September.
“The harsh reality is not everyone will have jobs to return to, as while the furlough scheme protected businesses that, through no fault of their own, were forced to shut up shop during government-enforced lockdowns, it also protected businesses that were already in a precarious state.
“The furlough scheme has been a resounding success in keeping a lid on unemployment during the pandemic. However, there will without question be a price to pay for keeping millions in a job which is likely to hit our back pocket one way or another through taxes rises, spending cuts or a mixture of both.”
- 1.3 million fewer employees accessed the furlough scheme in March and April, according to new data.
- the furlough scheme will remain in place until the end of September to ensure jobs are protected as businesses get back on their feet.
- new figures also show that a total of 2.8 million people have benefited from the Self-Employment Income Support Scheme (SEISS).
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.