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Britain’s Workforce Shrinks Despite a Surge in Wages and Bonuses

  • Covid and Brexit have reduced the number of people with jobs
  • Shift has surprised and concerned Bank of England officials
Morning commuters on London Bridge in City of London, UK, on May 16.

Morning commuters on London Bridge in City of London, UK, on May 16.

Photographer: Jason Alden/Bloomberg

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Wages in the UK are rising, and employers are paying bonuses to recruit workers in a scarce market. Yet people who left the labor market during the pandemic are staying away.