UK Economy in Crisis? ONS Hits Unemployment Up!
What the Numbers Actually Say
The Office for National Statistics just dropped the latest Thursday numbers, and spoiler alert: unemployment is at 4.7%. That’s higher than ever and it’s not a typo.
Meanwhile, payroll numbers are falling like your favourite phone battery when you’re on a long call, and wage growth has slowed to a crawl.
Why This is a Big Deal
- The news literally shows that making hiring more expensive & risky cuts down job chances.
- Everyone is already locked out of opportunities, and the benefits bill will shoot up like a rocket.
- Businesses are getting stuck in a loop of slow growth & bureaucratic headaches.
- The gov’s tax tactics could destroy private sector jobs, pushing unemployment to levels we haven’t seen in years.
What Should the Government Do?
They need to act fast: pull back on the red tape, make hiring cheaper and safer, and get those jobs back into circulation before the system falls apart.
Stay Tuned!
We’re on the case, and more updates will drop soon.
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Why the Numbers Are Startling
Professor Len Shackleton, an Economics Fellow, calls the latest labour‑market data “disturbing.” The figures show a dip in payroll employment and job vacancies, while unemployment is climbing—proof that the new National Insurance hike and the looming Employment Rights Bill are pushing firms to rethink hiring.
Government vs. Private‑Sector Jobs
- Public‑Sector Frenzy: The government can’t truly create jobs except those funded by taxpayers. But we’ve already got a surplus of people in quangos, regulators, and the civil service.
- Private‑Sector Pain: Every time the government raises costs, it gets harder for businesses to keep workers on the payroll, effectively tearing jobs from the market.
Shackleton warns that it’s not too late for Britain to pull back on the policies that are turning the labour market into a free‑fall. The sooner the government acts, the better—we’re still before the kind of joblessness that hasn’t been seen in decades.
A Call to Action (and a Friendly Reminder)
— Government, we’ve got a lot of jobs to hand through the bureaucracy maze.
— Private sector, let’s keep that cost‑effective hiring engine humming!
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