The Recent Decline in United Kingdom Labor Force Participation: Causes and Potential Remedies

July 13, 2023

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Format: Chicago

Gloria Li, and Carlos Mulas-Granados. The Recent Decline in United Kingdom Labor Force Participation: Causes and Potential Remedies, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

This paper studies the puzzling decline in labor force participation observed in the UK following the pandemic. Retirement and long-term sickness appear to be the main drivers, with chronic illness remaining a lingering distinctive factor vis-a-vis peer countries. While the government has recently adopted a battery of measures to increase labor force participation, more could be done to improve health outcomes and increase the participation of the long-term sick and the disabled, keep older workers in the labor force, increase female labor force participation, and improve the skills and productivity of both domestic and foreign workers that join the workforce.

Subject: Aging, Health, International organization, Labor, Labor force, Labor force participation, Labor markets, Monetary policy, Population and demographics

Keywords: Aging, Decline in United Kingdom, Health outcome, IMF Slected issues paper, Inactivity, Inactivity spike, Labor force, Labor force participation, Labor markets, Long-term illness, Productivity, Retirement, Title page, UK system, United Kingdom

Publication Details

Pages:

15
Volume:

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DOI:

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Issue:

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Series:

Selected Issues Paper No. 2023/051
Stock No:

SIPEA2023051
ISBN:

9798400248528
ISSN:

2958-7875

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