UK seeks labour market solutions to ease cost-of-living crisis -Breaking
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© Reuters. London Bridge is seen by workers, while the City of London financial districts are visible behind. This was because the British government’s coronavirus infection (COVID-19), lockdown guidelines encourage working at home in London.2/2
LONDON, Reuters – Britain has launched a review to its labour market, to determine how workers can benefit from Brexit, Levelling Up policies, and net zero ambitions. It is seeking long-term solutions for a cost of living crisis.
Boris Johnson, Prime Minister of the United Kingdom said that tackling the current economic problems requires helping people get into higher-paying and highly-skilled jobs. This review will examine how people can thrive at work no matter their origins.
According to the government, the review will be headed by Matt Warman, minister for Human Resources. It will examine how government can build a skilled workforce which would help with cost-of living and better wages.
Johnson is under pressure to act quickly and bring about policies to ease the pressure on households, with a survey https://foodfoundation.org.uk/press-release/millions-adults-missing-meals-cost-living-crisis-bites reporting millions of Britons had to skip meals last month because they could not afford it.
Inflation has been outpaced by pay rises. Due to both the conflict in Ukraine and the supply chain issues caused by Brexit and COVID-19, inflation is expected to reach a peak of over 10% in 2019.
The data from Thursday showed an unanticipated contraction in Britain’s economy in March, but this didn’t alleviate concerns of a possible recession.
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