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Home News Workforce

UK Might See Workforce Crisis

The strikes that the UK has experienced are having a heavier impact on the economy than initially anticipated.

Emma AscottbyEmma Ascott
April 17, 2023
in Workforce
Reading Time: 2 mins read
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UK Might See Workforce Crisis

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What’s going on:    

The wave of strikes that have flooded the UK are having a heavier impact on the economy than initially anticipated, and the repercussions are set to go on as health and teaching unions create plans for industrial action which could last until the end of the year. 

Why it matters:  

Many economists maintain that the short-term turmoil resulting from strikes won’t alter the trend of an economy that is performing better than expected, but it’s hard to be certain.  

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Even though the majority of economists don’t agree with the chancellor’s statement that higher public sector wages will cause inflation, they say that the bigger concern is the unresolved recruitment and retention dilemma, which is degrading the capacity of the NHS and educational system.  

This dilemma is due to many factors, but pay and health are some of the biggest issues.  

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How it’ll impact the future:  

The Bank of England governor, Andrew Bailey, has warned that the rise in economic inactivity due to ill health could be the spark to ignite inflation and thus lead to an increased rate of interest. 

This could have severe long-term repercussions on the economy, seeing as the deteriorating health of the population is causing more people to stay unemployed, according to the FT. 

Source: Financial Times
Tags: Workforce
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Emma Ascott

Emma Ascott

Emma Ascott is a contributing writer for Allwork.Space based in Phoenix, Arizona. She graduated from Walter Cronkite at Arizona State University with a bachelor’s degree in journalism and mass communication in 2021. Emma has written about a multitude of topics, such as the future of work, politics, social justice, money, tech, government meetings, breaking news and healthcare.

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