{"componentChunkName":"component---src-templates-post-js","path":"/workers-missed-out-on-24bn/","result":{"data":{"ghostPost":{"id":"Ghost__Post__6038c32efd86770039528537","title":"Workers missed out on £24bn","slug":"workers-missed-out-on-24bn","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/minute-392.png","excerpt":"Plus: 4.7 million people on furlough, business regains confidence, Airbnb predicts rebound.\n","custom_excerpt":"Plus: 4.7 million people on furlough, business regains confidence, Airbnb predicts rebound.\n","created_at_pretty":"26 February, 2021","published_at_pretty":"26 February, 2021","updated_at_pretty":"26 February, 2021","created_at":"2021-02-26T09:45:18.000+00:00","published_at":"2021-02-26T09:52:44.000+00:00","updated_at":"2021-02-26T10:42:56.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need with expert adviser commentary.\n\nUnpaid overtime\nBritish workers racked up over £24 billion worth of unpaid overtime in 2020,\naccording to new data from the Trades Union Congress. 3 million people did extra\nwork for free, averaging 7.7 unpaid hours a week. People working from home such\nas teachers, managers, and directors are among those most likely to be doing the\nmost.\n\nBusiness regains confidence\nCompanies are feeling positive about the future\n[https://www.cityam.com/hopes-of-economic-revival-buoys-business-confidence/],\nfor the first time since March last year. A survey in early February by Lloyd’s\nBank found that business confidence has nudged into positive territory, even\nbefore Boris Johnson announced the roadmap out of lockdown. The bank’s senior\neconomist says this shows firms are “cautiously pinning their hopes on economic\nrevival”.\n\n\n4.7 million furloughed\n700,000 people went onto the furlough scheme January, as the third national\nlockdown got under way. The number of furloughed workers now stands at 4.7\nmillion\n[https://www.theguardian.com/uk-news/2021/feb/25/covid-furlough-workers-uk-hospitality] \n- the highest since last summer. It’s around half the number who were furloughed\nlast spring, at the start of the crisis. Next week, chancellor Rishi Sunak will\nannounce what’s happening with the furlough scheme beyond April.\n\nAirbnb predicts rebound\nAirbnb is getting ready for a big surge\n[https://www.bbc.co.uk/news/business-56204079] in bookings when the world\nemerges from lockdown restriction. The booking platform saystravel is coming\nback, but reckons travellers will want different things. Remote working could\nallow people to take more weekend trips, or spend several months away from home.\nPlus, social distancing rules mean there’s greater demand for private homes.","html":"

The 1-minute read to get the money news you need with expert adviser commentary.

Unpaid overtime

British workers racked up over £24 billion worth of unpaid overtime in 2020, according to new data from the Trades Union Congress. 3 million people did extra work for free, averaging 7.7 unpaid hours a week. People working from home such as teachers, managers, and directors are among those most likely to be doing the most.

Business regains confidence

Companies are feeling positive about the future, for the first time since March last year. A survey in early February by Lloyd’s Bank found that business confidence has nudged into positive territory, even before Boris Johnson announced the roadmap out of lockdown. The bank’s senior economist says this shows firms are “cautiously pinning their hopes on economic revival”.

4.7 million furloughed

700,000 people went onto the furlough scheme January, as the third national lockdown got under way. The number of furloughed workers now stands at 4.7 million - the highest since last summer. It’s around half the number who were furloughed last spring, at the start of the crisis. Next week, chancellor Rishi Sunak will announce what’s happening with the furlough scheme beyond April.

Airbnb predicts rebound

Airbnb is getting ready for a big surge in bookings when the world emerges from lockdown restriction. The booking platform saystravel is coming back, but reckons travellers will want different things. Remote working could allow people to take more weekend trips, or spend several months away from home. Plus, social distancing rules mean there’s greater demand for private homes.

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