Record long-term sickness could harm economy

Feb 19, 2024

The UK's economic growth is being hindered by a rising number of people unable to work due to long-term illness, exacerbated by factors like long Covid, NHS treatment delays and workplace issues.

Last week's data from the Office for National Statistics (ONS) revealed over 2.8 million individuals are inactive due to long-term sickness - an increase of 200,000 in the past year and 700,000 since the pandemic's onset in 2020.

This data contributes to a 700,000 reduction in the workforce from pre-Covid levels, impacting the tight labour market and the stagnant economy.

The Government faces pressure to address the issue, focusing on illness prevention and tailored back-to-work programs. While inactivity due to ill health garners attention, many with health problems remain employed, emphasising the need for flexible work arrangements and increased investment in occupational health.

A study by the Institute for Public Policy Research found cardiovascular disease has a significant impact on job exits. Policymakers and employers are urged to break down barriers for those with health issues, addressing workplace stress and heavy workloads to sustain economic growth.

Jon Boys, senior research economist at the Chartered Institute of Personnel and Development (CIPD) said:

"It is all very well getting people back into work, but the bigger issue is not allowing them to fall out of it in the first place."

Talk to us about your labour costs.

Make the switch to us

Choosing StationOne means opting for a service where excellence, expertise, and a personal touch converge. Our rates reflect the quality and dedication we bring to every interaction. We are not just about the numbers; we're about fostering growth, ensuring compliance, and paving the way for your business's prosperity.

Get in touch

Fancy a new accountant? Contact us for tailored financial guidance.

Tell us about your business

Share your business needs; we'll provide the bespoke financial solutions.

We'll take it from here

Trust us to lead your financial operations to success.

"Enables us to be more profitable"

"Having been a client for many years we have learned how important Food and Drink GP’s are to the running of our restaurants and getting these to the correct %’s every week enables us to be more profitable and then be able to concentrate on managing other costs"

StationOne favicon3

How can we be of service?

Embark on your journey towards financial excellence with StationOne. Let us show you what it means to have not just an accountant, but a committed partner in your corner.