Why are so many people leaving the UK workforce?

[Eldorado]

Something odd is going on in Britain’s jobs market. Even as unemployment hovers close to its lowest level since the mid-1970s and businesses across the country struggle to recruit enough staff to fill roles, growing numbers are quitting the workforce altogether.

The rise of economic inactivity – when working-age adults are neither in a job nor looking for one – is one of the biggest challenges facing the economy as the country grapples with the twin threats of rampant inflation and weaker economic growth. Both are influenced by the loss of more than 600,000 “missing workers” since the Covid pandemic.

The number of people leaving work to unemployment in the most recent official figures from the Office for National Statistics was below a quarter of a million for the first time on record, according to experts at the Institute for Employment Studies

https://www.msn.com/en-gb/money/other/why-are-so-many-people-leaving-the-workforce-amid-a-uk-cost-of-living-crisis/ar-AA14SWxm?

[Cookie Monster]

2 hours ago, Eldorado said:

Something odd is going on in Britain’s jobs market. Even as unemployment hovers close to its lowest level since the mid-1970s and businesses across the country struggle to recruit enough staff to fill roles, growing numbers are quitting the workforce altogether.

The rise of economic inactivity – when working-age adults are neither in a job nor looking for one – is one of the biggest challenges facing the economy as the country grapples with the twin threats of rampant inflation and weaker economic growth. Both are influenced by the loss of more than 600,000 “missing workers” since the Covid pandemic.

The number of people leaving work to unemployment in the most recent official figures from the Office for National Statistics was below a quarter of a million for the first time on record, according to experts at the Institute for Employment Studies

https://www.msn.com/en-gb/money/other/why-are-so-many-people-leaving-the-workforce-amid-a-uk-cost-of-living-crisis/ar-AA14SWxm?

I have a theory than 600,000 became homeless and discovered they could earn £50,000 a year by pan handling.