Bailey puzzles over UK labour market signals

Andrew Bailey
Andrew Bailey
Photo: Bank of England

The UK’s labour market has still not recovered to pre-Covid employment levels, and it is not clear exactly how it will develop in the coming months, said Andrew Bailey on September 27.

The Bank of England governor said there had been no “major upturn in unemployment” despite the shock from Covid-19. But the UK’s furlough scheme ends this week, and 1.7 million jobs were covered by the scheme in July. More people are inactive or unemployed than before Covid. There are also record job vacancies –

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