The number of people classed as economically inactive because they are long-term sick has reached a record high, with the largest rise among the over-50s - taking millions of people out of the workforce.
Of all the troubling vital signs displayed by the British economy, the increase in"economic inactivity" is perhaps the most worrying.for a range of reasons has risen to more than nine million people, one-in-five working age adults.
Initially it was driven by an increase in students deferring the transition to work, but latterly a more worrying underlying trend has emerged; long-term sickness. The numbers of those classed as economically inactive because they are long-term sick has reached a record high, with the largest rise among the over-50s - taking millions of people out of the workforce.
In the three months from June to August the rate of economic inactivity increased by 0.6 percentage points to 21.7%, with 624,000 more people out of the workplace in August than before COVID-19 stalled the economy.already extremely"tight" - the euphemism for an economy struggling to fill the jobs it needs doing.
Unemployment in the quarter to August was down to 3.5%, a 48-year low, but so was employment, the second successive month in which fewer people were working and fully one percentage point below pre-pandemic levels. The number of vacancies also dipped again, but there are still more unfilled roles than there are unemployed people with only 0.9 for every available job.
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