Bank of England sees five million people on furlough scheme - Broadbent

LONDON (Reuters) - The Bank of England expects more than 5 million employees will be on the government's extended furlough scheme in November, BoE Deputy Governor Ben Broadbent said on Friday. 'We think that there will again be many millions of employees placed on furlough ... in November, and over the following few months,' Broadbent said in a presentation organised by regional agents of the central bank

Reuters November 07, 2020 01:05:41 IST
Bank of England sees five million people on furlough scheme - Broadbent

Bank of England sees five million people on furlough scheme  Broadbent

LONDON (Reuters) - The Bank of England expects more than 5 million employees will be on the government's extended furlough scheme in November, BoE Deputy Governor Ben Broadbent said on Friday.

"We think that there will again be many millions of employees placed on furlough ... in November, and over the following few months," Broadbent said in a presentation organised by regional agents of the central bank.

"Probably not as many as in phase one because of the change in the nature and the duration of the lockdown. But we think probably in November, more than 5 million will be in. It was probably, we think, over 9 million in the spring."

(This story corrects to show reference to 9 million people furloughed in the spring referred to spring this year, not next year)

(Writing by William Schomberg, editing by Andy Bruce)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

U.S. job openings rise slightly in September
Business

U.S. job openings rise slightly in September

WASHINGTON (Reuters) - U.S. job openings increased moderately in September and layoffs appeared to abate, pointing to a gradual labor market recovery from the COVID-19 pandemic.

Central bankers seek new role in brave new world
Business

Central bankers seek new role in brave new world

By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) - Taking a break from fighting the coronavirus crisis, the world's top central bankers will attempt to resolve the existential questions of their profession this week as they tune into the European Central Bank's annual policy symposium. Having struggled to lift anaemic inflation for years, officials including the heads of the ECB, the U.S. Federal Reserve and the Bank of England will attempt to figure out why monetary policy is not working as it used to and what new role they must play in a changed world - be it fighting inequality or climate change.

Asian stocks extend gains as vaccine hopes support global reopening
Business

Asian stocks extend gains as vaccine hopes support global reopening

By Lawrence Delevingne BOSTON (Reuters) - Asian shares rose on Wednesday as hopes for a successful coronavirus vaccine lifted expectations of a swift reopening of the global economy, which would help the region's heavily trade-dependent markets.