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

Future Retirement Success

Business

UK Households with No Work Reach 12-Year High Amid Labour Crisis

by May 30, 2024
May 30, 2024
UK Households with No Work Reach 12-Year High Amid Labour Crisis

The number of UK households where no adult has ever worked has reached a 12-year high, highlighting a deepening labour crisis that experts warn is stifling Britain’s economic growth.

In the first quarter of this year, there were 269,000 non-student households where no adult had ever been employed, the highest figure since spring 2012, according to the Office for National Statistics (ONS). This marks a 12% increase from the same period last year.

Between January and March, 4.3 million 16 to 64-year-olds lived in households where no adult was employed, nearly 300,000 more than at the end of last year and the highest total in seven years.

This alarming trend is part of a broader worklessness crisis that threatens to cripple the UK’s growth as Prime Minister Rishi Sunak prepares for a general election in July. Nationally, 9.4 million working-age adults were economically inactive at the start of the year, neither employed nor seeking work. This figure is up by 832,000 compared to pre-pandemic levels.

Sir Jacob Rees-Mogg, Conservative MP and former Business Secretary, described high levels of economic inactivity as a “huge problem” for the country. He emphasised that non-working individuals do not contribute to GDP growth, reducing the state’s capacity to fund tax cuts or public services. This situation, he argued, fuels calls for increased migration to fill labour shortages.

Tony Wilson, Director of the Institute for Employment Studies (IES), suggested that the rise in jobless households is likely driven by increased worklessness among young people. Recent data indicated that the number of 16 to 24-year-olds not in education, employment, or training (NEETs) reached a nine-year high of 900,000 at the start of this year, an 18% increase from pre-pandemic levels.

Wilson warned that prolonged periods out of work and education during youth can cause lasting harm, both to the individuals affected and to society and the economy. He highlighted that young people who remain out of the workforce long-term are more likely to suffer from poor health, lower incomes, and disadvantage their own children.

In response to the crisis, Prime Minister Sunak has pledged to introduce National Service for 18-year-olds. However, Wilson criticised the plan, arguing that it would divert funds from existing programmes designed to help economically inactive individuals re-enter the workforce. The proposed scheme, estimated to cost £2.5 billion, would be primarily funded by the UK Shared Prosperity Fund, which supports community organisations.

As the labour crisis deepens, addressing the root causes of economic inactivity and providing targeted support for young people and other vulnerable groups will be crucial for sustaining the UK’s economic growth and societal well-being.

Read more:
UK Households with No Work Reach 12-Year High Amid Labour Crisis

0
FacebookTwitterGoogle +Pinterest
previous post
Dame Kate Bingham Celebrates ‘Astonishing’ $3bn Deal for EyeBio
next post
Rafah offensive by Israel didn’t cross Biden’s ‘red line,’ White House says

You may also like

The Economic and Wellness Impact of Medical Cannabis...

December 23, 2024

Why Does Communication in Health and Social Care...

March 11, 2025

What Is Resource Management? Practical Examples and Benefits...

January 14, 2025

Female entrepreneurs to add £250b to the economy...

June 7, 2023

8 Dangers of Working in the Oil and...

July 15, 2024

Ofgem raises energy price cap by 80% to...

August 26, 2022

Empowered Events revolutionised the British Business Excellence Awards...

December 18, 2024

Carmakers lead UK economic growth in November as...

December 11, 2023

5 Reasons to Trust London Chauffeur Services for...

March 13, 2024

Boost your getting a better Perch Mortgage with...

December 27, 2022

The Economic and Wellness Impact of Medical Cannabis...

December 23, 2024

Why Does Communication in Health and Social Care...

March 11, 2025

What Is Resource Management? Practical Examples and Benefits...

January 14, 2025

Female entrepreneurs to add £250b to the economy...

June 7, 2023

8 Dangers of Working in the Oil and...

July 15, 2024

Ofgem raises energy price cap by 80% to...

August 26, 2022

Empowered Events revolutionised the British Business Excellence Awards...

December 18, 2024

Carmakers lead UK economic growth in November as...

December 11, 2023

5 Reasons to Trust London Chauffeur Services for...

March 13, 2024

Boost your getting a better Perch Mortgage with...

December 27, 2022

    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

    • House GOP subpoenas Biden aide to testify about former president’s concerning mental fitness

      July 15, 2025
    • Democrats capitalize on GOP Jeffrey Epstein fallout with new demands for Jim Jordan

      July 15, 2025
    • Senate GOP agree to strip cuts to HIV, AIDS prevention program from Trump’s clawback bill

      July 15, 2025
    • Where Is Public Corruption the Highest?

      July 15, 2025
    • How Can Pet Influencers Monetise Partnerships With Cat Food Brands?

      July 15, 2025
    • White House investigating Biden use of autopen in sprawling probe of ‘incompetent and senile’ former president

      July 15, 2025

    Categories

    • Business (8,486)
    • Investing (2,122)
    • Politics (16,055)
    • Stocks (3,209)
    • 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