Economics
U.K. Furloughed Jobs Plunge to Pandemic Low as Economy Opens
- Wage subsidies supporting 600,000 fewer jobs at end of June
- Furlough rate central to Bank of England debate on stimulus
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The number of jobs supported by the U.K. government furlough program fell to the lowest level since the start of the pandemic as the economy took a further step toward normality.
At the end of June, the number of people getting support from the Coronavirus Job Retention Scheme was 1.86 million, almost 600,000 fewer than a month earlier, the U.K. tax authority said Thursday. A survey-based estimate by the Office of National Statistics suggested the decline continued into July.