2min chapter

New Economics Podcast cover image

Can we prevent living standards plummeting this winter?

New Economics Podcast

CHAPTER

How the Furlough Scheme Prevents Mass Unemployment

11 point six million people have used the furlough scheme at some point. The t c has called for a kind of wage subsidy scheme before, and we called for it in the financial crisis. If there hadn't been som support for their jobs, you know, we would have seen those jobs go. And i think when you look at kind of the comparison between falls in g d p or levels of unemployment, normally, like in the financial Crisis, people lose their jobs. This time, unfortunately, many people did lose their jobs but to a far lesser extent than had been predicted.

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