By SIMON CONSTABLE
The world may think we are all long past the financial crisis of 2008. But new research suggests that in the United Kingdom, and perhaps elsewhere, the harm to the workforce has been much more lasting—and still needs correcting.
According to new data that only makes the timing of Brexit more worrisome, during the decade after the crisis, the UK’s economic efficiency fell to its worst level in 250 years. Productivity growth, or the annual increase in output per worker, fell to an average of less than 0.2% per year over the decade, compared to a normal trend line increase of between 1% and 3% a year, the research shows. More recent figures suggest little improvement last year. Read more here.
The world may think we are all long past the financial crisis of 2008. But new research suggests that in the United Kingdom, and perhaps elsewhere, the harm to the workforce has been much more lasting—and still needs correcting.
According to new data that only makes the timing of Brexit more worrisome, during the decade after the crisis, the UK’s economic efficiency fell to its worst level in 250 years. Productivity growth, or the annual increase in output per worker, fell to an average of less than 0.2% per year over the decade, compared to a normal trend line increase of between 1% and 3% a year, the research shows. More recent figures suggest little improvement last year. Read more here.
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