UK unemployment outlook is grim – it's going to be tough | Larry Elliott
by Larry Elliott from on (#54NA4)
The furlough scheme has given employers breathing space, but its impact will be reduced by autumn
The jobless picture is grim but will get a lot grimmer. Even government ministers, normally hard-wired to find a silver lining to the darkest of clouds, admit as much. Unemployment is nudging 3 million, vacancies have plummeted and pay packets are shrinking. All this while the government is paying the wages of millions of workers through its furlough scheme.
Related: UK jobcentre claimants rise 23% to 2.8m amid coronavirus crisis
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