AEX Gold have discovered massive copper and gold deposits plus RareEarths/Graphite in Greenland. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Over half of furloughed UK staff back at work, think tank estimates

Sat, 1st Aug 2020 00:01

LONDON, Aug 1 (Reuters) - More than half of the roughly 9
million British employees who were put on furlough during the
coronavirus lockdown have already returned to work, the
Resolution Foundation think tank estimated on Saturday.

Britain's finance ministry has said furlough payments
totalling 32 billion pounds ($42 billion) so far have been made
in respect of a cumulative 9.5 million jobs, but does not
publish figures on the current number of furloughed workers.

Based on an analysis of surveys of businesses and households
from the Office for National Statistics, the Resolution
Foundation estimated that the number of furloughed workers is
"certainly below 4.5 million" and possibly as low as 3 million.

The furlough scheme started alongside the lockdown in March,
and is due to end in October, after which many economists fear
unemployment could rise sharply, surpassing the peak seen after
the financial crisis.

Official data on Thursday showed big differences between
sectors, with more than 90% of information technology and
sewerage workers not furloughed, but almost half of staff in the
hospitality, arts and leisure sectors still needing help.

"These workers face a heightened risk of unemployment as the
Job Retention Scheme starts to be phased out," Resolution
Foundation economist Dan Tomlinson said.

From this month, employers must begin to contribute to the
cost of paying furloughed workers, who receive 80% of their
normal salary.

Last week, Britain's National Institute of Economic and
Social Research and the opposition Labour Party called for the
programme to be extended until the middle of next year.

But finance minister Rishi Sunak has repeatedly rejected
calls for an extension, and his deputy Steve Barclay said
workers' skills were likely to degrade if they spent more than
eight months off work, waiting for a job that might not return.

Employers will receive 1,000 pounds for each furloughed
worker they take back and keep employed until the end of
January.
(Reporting by David Milliken; editing by Stephen Addison)

More News
20 May 22 22:28

Global stocks rebound despite unease over economy; dollar gains

NEW YORK, May 20 (Reuters) - Global equity markets rebounded after the S&P 500 pared losses that briefly took it into bear market territory, and the dollar gained on Friday, as investor unease...

20 May 22 22:25

Parthenon fragment from Italy can stay in Greece 'forever,' Greek ministry says

ATHENS, May 20 (Reuters) - A marble fragment of the Parthenon temple will be permanently returned to Athens from a museum in Italy, a significant move for Greece which has stepped up its campaign f...

20 May 22 21:40

U.S. dollar net long bets slip, bitcoin futures surge-CFTC, Reuters data

NEW YORK, May 20 (Reuters) - Speculators' net long positioning on the U.S. dollar slipped, after hitting their highest level since late November in the previous week, according to calculations by Reut...

20 May 22 21:13

S&P 500 dodges bear, but Dow has longest weekly losing streak since 1932!

May 20 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com S&P...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.