Re: Coronoavirus: Furlough Wind Down Starts
It would be a lot more expensive if 3 million people lost their jobs over COVID-19.
When people go back to work, the economy will bounce back and the shortfall of orders etc needs to be sorted out. Furloughing is the right thing to do - you don't need to recruit them back or worse, replace them with untrained staff when the pandemic is over. You also don't need to pay unemployed people welfare, housing benefit etc - and considering people got a 3 month mortgage holiday, I don't think they would be affected all that much (in most cases).
In the USA I saw a report that manufacturing is at an all time high since the last 16 years due to the surge since COVOD-19. What happens in the USA usually happens here.