September 17, 2024
UK see largest contraction in Labour Force since the 1980s
The final report from the two-year Commission on the Future of Employment Support claims that the UK needs ‘once-in-a-generation reform’ to boost growth and improve living standards in the face of a huge contraction in the country’s labour force. The report suggests that the UK is one of the few developed nations where employment has fallen post-pandemic. The UK has dropped from having the eighth-highest employment rate globally to fifteenth. Had the original position been maintained, the economy would be £25 billion larger annually, with public finances £16 billion better off. More →