How far will employment have to fall to meet GDP?

The end of the national furlough scheme on 31st October sets the stage for a sharp fall in employment. That’s why the Chancellor had to increase the generosity of the replacement Job Support Scheme. Even so, when that new scheme ends in April next year, employment will fall back in line with GDP. That points to a 1.4m fall in employment and the unemployment rate rising to almost 8% next year.

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