A triple whammy of an ageing population, the pandemic and Brexit will mean the UK could see a labour shortage of 2.6 million workers in less than a decade, research shows.
With labour shortages hitting many sectors of the UK economy including, transport, the NHS, hospitality and education, think-tank International Longevity Centre-UK (ILC) is warning the problem will only get worse unless the government takes action.
“If we fail to address the workforce challenge, we simply won’t have enough people for the jobs,” warned Les Mayhew, head of global research at the ILC.
“Population ageing, the pandemic and Brexit have come together to form the perfect storm. If we continue with business as usual, we are going to see huge shortfalls hitting all sectors of the economy.”.
The report projects that with many older workers set to retire and fewer younger workers joining the labour force, as well as fewer migrants from Europe due to Brexit and the pressures of the pandemic, the UK will be facing 2.6m more unfilled vacancies.
The Office for National Statistics has recently released figures projecting deaths will outnumber births by 59,000 by 2025, leaving Britain’s ageing population relying on younger generations to make up the workforce.