U.K. Worker Shortages Persist As Sickness Weighs On The Jobs Market

Sep. 13, 2022 4:45 AM ETEWU, EWUS, FKU, HEWU, FLGB, ZGBR1 Comment

Summary

  • UK unemployment fell by two-tenths of a per cent to 3.6%, the lowest level since 1974.
  • The number of workers classified as long-term sick has jumped dramatically in the past couple of months, and that's one reason why firms are still struggling to source the staff they need.
  • While worker demand has cooled, Bank of England hawks will be worried that these shortages will continue to push up wage growth.

UK Hospitality Suffers Skills Shortage

Rob Pinney/Getty Images News

By James Smith

At a headline level, the latest UK jobs numbers don’t look too bad. Unemployment fell by two-tenths of a per cent to 3.6%, the lowest level since 1974. But this is driven not by an increase

UK jobs market dashboard - worker demand and supply

UK Jobs Market Dashboard (Macrobond, ONS, ING)

This article was written by

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