Economics
U.K. Job Opportunities in Short Supply for Over 8 Million People
- IFS report suggests more slack in the U.K. labor market
- BOE is watching jobs market to assess recovery’s strength
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Job opportunities remain below pre-pandemic levels for a quarter of the U.K. workforce, the Institute for Fiscal Studies said in a report that suggests more slack in the labor market than official estimates show.
A surge in overall vacancies to record levels has been entirely driven by low-paying occupations, where openings are now 20% higher than they were before the pandemic, the research group said in a report published Tuesday. Demand for truck drivers and storage workers has been particularly strong.