One of the most remarkable pieces of employment policy in our history is about to come to an end. The Coronavirus Job Retention Scheme—furlough— was dreamt up, constructed, and launched in days at the beginning of the pandemic. It has achieved what then seemed impossible: we are emerging from the Covid pandemic with the same number of people on payrolls as when we entered it. Beyond this remarkable achievement, the furlough scheme embodies something important: it is rooted in a recognition that employment is important even beyond earnings.