The Bank of England’s chief economist warned against extending a government program to retain employees during the pandemic and said that some jobs “may well not be coming back.”
Andy Haldane said in an interview that “keeping all those jobs on life support is in some ways prolonging the inevitable in a way that probably doesn’t help either the individual or the business,” according to City A.M.
The program, which covers wages for furloughed staff, is set to expire next month.
In the U.S., President Donald Trump said at a White House briefing on Monday that a vaccine may be ready in October. Democratic presidential nominee Joe Biden, meanwhile, said he would heed the advice of scientists about whether to get a coronavirus vaccine if one were to become available before November’s presidential election.
New York reported that the state has had an infection rate below