British Bank Governor Andrew Bailey said poor economic growth and a decline in the “acute challenge” workforce for the UK.
He said the aging workforce, along with the increase in the number of people who have been defined as a long -term patient, means British productivity, he said to collect financial policymakers in Jackson Hall, Wyoming.
According to official data, the percentage of children aged 16 to 64, who are economically active in the UK, has declined since the epidemic of COVID, and it exceeds advanced economies. Mr Bailey added that this is a “very worrying progress” that has become the most common cause of inactivity.
He said the data is very interesting to the data, such as low response rates and higher chances for participants economically inactive.
“This is a very sad story for England because … we are at the bottom of the league table,” said Mr Bailey.
During the weekend, the policymaker also shows that increasing the disease and the high reduction of young people in the workplace may be at least somewhat linked.
Recent research has shown that almost every 4 out of 4 people who have been out of work due to patient health, under 35 years of age, mental health is one of the most common issues.
Mr Bailey said the increase in productivity growth for the UK should be a priority, adding: “Aging will not be predictable in the future.” Forecasts show that 40 % of the British population will be older than 64 years by 2040. “
Labor has said he wants to strengthen labor and economic growth and has unveiled several policies since July 2024.
The Ministry of Labor and Pension (DWP) received £ 45m on providing “youth guarantees” – a project in its early stages – aimed at ensuring all young people at work, training or training.
Welfare reforms have also formed the main part of the government’s plans to strengthen the participation of the labor force. However, the ministers were forced to reduce the benefits of disabilities in July after widespread criticism, including many MPs in July.
The data from April to June 2025 shows that 21 % of the 64-64-year-old British are neither in the workplace nor actively looking for work, from 22.2 percent in 2024, but above 20.3 percent before pandemia.
Some British Central Bank policymakers have expressed fear that the labor force participation makes the British inflation rate on top of the target. In July, 3.8 %, in the G7, is the highest and higher than the 2 % target of the bank.
