It wasn’t long ago that we were fearing the end of the furlough scheme might be accompanied by a significant rise in unemployment. According to the latest labour market figures released by the Office of National Statistics (ONS) this morning, that doesn’t appear to have happened. What they do show, however, is that the pandemic has led to growth in a section of the population which generally receives little comment: adults of working age who are economically inactive – i.e. not in work and not seeking work either. Moreover, those who are in work are working fewer hours than they did before the pandemic.
The figures cover the period August to October, the last month of which falls after the end of the furlough scheme on 30 September. They show that unemployment is a modest 4.2
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