Resolution Foundation Criticizes ONS Employment Estimates
Resolution Foundation Criticizes ONS Employment Estimates
Resolution Foundation Criticizes ONS Employment Estimates
News summary

The Resolution Foundation has criticized the UK Office for National Statistics (ONS) for underestimating employment growth by 930,000 workers since 2019, attributing this to inaccurate Labour Force Survey data. This discrepancy has led to potential overestimations of unemployment and inactivity rates, partly due to poor survey response rates during the pandemic. The think tank's alternative estimate, using HM Revenue and Customs payroll and self-employment data, suggests the actual employment rate could be around 76%, compared to the ONS's 75%. This issue complicates the Bank of England's economic decisions, such as interest rate adjustments, due to concerns about inflation pressures. Policymakers are urged to reconcile these discrepancies to accurately assess the labor market and address the workforce inactivity crisis. The ongoing issue has sparked debate among economists and government officials about the reliability of current labor market data.

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75% Left
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bd68667e-abfe-4783-a143-3b1ae84b823271639883-fbbd-48af-8cc3-393f63e7b2ef166bc319-c612-4063-955b-1bdc4fec97ffa3544a73-dab3-486d-ae75-bd4d15f01f55
Left 75%
Center 25%
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4
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3
Center
1
Right
0
Unrated
0
Last Updated
2 hours ago
Bias Distribution
75% Left
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