An error that large would be hugely consequential for BoE rate-setter. — Bloomberg
LONDON: The United Kingdom has underestimated the number of people in employment by almost one million, according to a new report that casts further doubt on official estimates that are crucial for the Bank of England (BoE).
The Resolution Foundation said the employment rate has bounced back to pre-pandemic levels after its own estimates from tax and population data found an extra 930,000 more in work since 2019 than recorded by the Office for National Statistics (ONS).
