New Crisis Choking UK, Labor Disappearing!


 Britain is facing a labor shortage as hundreds of thousands of people have reportedly dropped out of the job market since 2019 due to long-term illness or mental health problems.

The Office for National Statistics (ONS) revealed an increase in long-term illnesses starting in 2019, before Covid-19 hit.

It then jumped by 363,000 between early 2020 and in the three months to the end of August 2022 the figure reached 2.5 million.

The analysis adds to the concerns of the Bank of England (BOE) which is working to lower inflation which is currently at a 40-year high.

The BOE fears that the number of people leaving the UK labor market will slow its efforts and add to inflationary pressures.

According to ONS data, 28% of people who were out of work or looking for work between June and August 2022 gave the reason that they had a long-term illness.

Meanwhile, the workforce suffering from mental illness and nervous disorders is reported to have increased by 22%.

Meanwhile, separate data shows the UK is lagging behind almost all rich countries in labor market recovery and is set to be the only major developed country with employment below pre-pandemic levels in early 2023.

A combination of factors including an increase in people taking early retirement, long-term illness and lower emigration are shrinking Britain's workforce, according to the Institute for Employment Studies (IES).