Economists predict November cut to UK interest rates after wage growth hits two-year low; oil price slumps – business live
Rolling coverage of the latest economic and financial news, as regular pay growth hits a two-year low…and the oil price falls 4%
Twice as many people are out of work sick than are officially unemployed, says Dr Helen Gray, chief economist of Learning and Work Institute:
This month’s data show that the number of people economically inactive due to long-term sickness remains elevated, at 2.8 million – double the number of people who are unemployed.
This highlights the need for the forthcoming White Paper on the Plan to Get Britain Working to focus on joining up work, skills and health, and providing support to the 9-in-10 out-of-work disabled people each year who do not currently receive help to find work.
“I think it’s a sign of the difficult inheritance we have had as a Government, that the economy has been in a difficult position for a number of years.
“What we are focused on now is what we can do as a Government to get us on a better track.”
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