Good Place. Good Things. Good Time.

Furlough warning as end of scheme set to spark ‘nightmare’ for Britons

Furlough warning as end of scheme set to spark ‘nightmare’ for Britons

However, some are particularly concerned about what the end of the scheme could mean for individuals who still need financial support. One expert described the end of furlough as potentially sparking a “debt nightmare” for those who do not have monetary stability going forward. 

Sarah Coles, personal finance analyst at Hargreaves Lansdown, said: “Hundreds of thousands of people could be left high and dry when the furlough scheme comes to an end, and those who are carrying debts could find themselves in serious difficulty.

“The ONS Business Insights survey estimates that between 1.6 million and two million people were on full or partial furlough at the start of August. On the face of it, if their employer can’t take them on again, they should be able to find work, given there were an estimated 953,000 job vacancies in May to July 2021, a record high.

“HHowever, in reality, it’s incredibly tough. There’s a real mismatch between the sectors people are on furlough from and the sectors that are recruiting. Not every sales assistant wants to take a pay cut to move into care or retrain as a delivery driver. It’s why NIESR forecasts unemployment will hit 5.4 percent at the end of the year.”

READ MORE: State pension age ‘should be lowered’ as Britons urge action

if(typeof utag_data.ads.fb_pixel!==”undefined”&&utag_data.ads.fb_pixel==!0){!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);fbq(‘init’,’568781449942811′);fbq(‘track’,’PageView’)}

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – abuse@techiazi.com. The content will be deleted within 24 hours.

The post Furlough warning as end of scheme set to spark ‘nightmare’ for Britons – ‘high and dry!’ appeared first on TechiAzi.

Search more articles here: Furlough warning as end of scheme set to spark ‘nightmare’ for Britons

Read original article here: Furlough warning as end of scheme set to spark ‘nightmare’ for Britons



Disclaimers and Denial of responsibility..!

Denial of responsibility! TheTopMag.com is an automatic aggregator of all media around the world. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – jamesonline999@gmail.com . The content will be deleted within 72 hours.
You might also like
Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.