Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Long-Term Sickness Absences Hit Record High

by April 17, 2024
April 17, 2024
Long-Term Sickness Absences Hit Record High

The UK grapples with a record-breaking surge in long-term sickness absences, reaching over 2.8 million individuals, marking an increase of 700,000 over the past three years.

Before the pandemic, approximately 2.1 million individuals were classified as economically inactive due to long-term sickness. The staggering rise in long-term sickness absences underscores the profound impact of health-related challenges on workforce participation, according to data from the Office for National Statistics (ONS).

Analysts at HSBC highlight a concerning trend, noting that the total number of individuals aged 16 to 64 inactive due to long-term sickness has surged by 36% since the end of 2019. This surge in long-term sickness absences poses significant challenges to economic recovery efforts, intensifying inflationary pressures and constraining the pool of available workers.

The rise in long-term sickness absences has broader implications for the economy, contributing to a decline in employment levels and exacerbating inflationary pressures. Charlie McCurdy of the Resolution Foundation underscores the broader economic implications, citing rising redundancies, falling job levels, and stagnant economic growth as signs of a troubled economy.

Experts attribute the rise in long-term sickness absences to various factors, including delays in routine healthcare treatments, increased mental health issues, and tighter access to basic benefits provision. However, a consensus on the primary drivers of this trend remains elusive.

The surge in economically inactive individuals extends beyond long-term sickness absences, with the overall number of economically inactive people of working age reaching 9.4 million. This level, last seen in 2012, underscores the severity of the current economic challenges.

Mel Stride, the work and pensions secretary, said: “We’ve seen long-term, sickness-related inactivity rise since the pandemic. That’s why we introduced our £2.5 billion back-to-work plan to transform lives and grow the economy.

“Our welfare reforms will cut the number of people due to be placed in the highest tier of incapacity benefits by over 370,000. As millions are benefiting from this month’s huge boost to the national minimum wage, it is work, not welfare, that delivers the best financial security for British households.”

Read more:
Long-Term Sickness Absences Hit Record High

0
FacebookTwitterGoogle +Pinterest
previous post
Inflation Declines Slower Than Expected, Dampening Hopes of Immediate Rate Cuts
next post
Garden Centres Rush to Stockpile Plants Ahead of Brexit Border Checks

You may also like

Binance faces US ban for ‘breaking laws’

March 28, 2023

Last bank in paddock wood closes, impacting local...

July 12, 2024

Government sells off more NatWest shares ahead of...

January 3, 2024

New rules on tips: what do they mean...

August 14, 2024

Data Collection: Empowering Businesses with Insights

April 4, 2024

UK security minister announces fraud crackdown

July 12, 2023

Cost of living squeeze ‘is holding back’ UK...

May 2, 2023

Inside a Corporate Communications Agency: How We Navigate...

February 7, 2025

What the Bank of England’s interest rate cut...

May 9, 2025

Rachel Reeves: Regulators must prioritise UK economic growth

August 13, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns Rand Paul he’s playing into ‘hands of the Democrats’ with ‘Big, Beautiful Bill’ opposition

      June 1, 2025
    • White House urges Iran to accept nuclear deal as IAEA reports uranium enrichment spike

      June 1, 2025
    • Israel hostage deal in doubt as Hamas adds demands, US envoy calls terms ‘unacceptable’

      May 31, 2025
    • Iran condemns Austria over report on advanced nuclear weapons program

      May 31, 2025
    • Michelle Obama facing backlash over claim about women’s reproductive health

      May 31, 2025
    • Hamas agrees to release 10 more hostages

      May 31, 2025

    Categories

    • Business (8,105)
    • Investing (2,000)
    • Politics (15,453)
    • Stocks (3,119)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved