> In February, the Bank of England reported an ongoing productivity slump so mysterious that its own economists “cannot account fully” for it.
The UK has seen unprecedented mass immigration from outside the developed world over the last 25 years.
250,000/yr non-EU migrants in the 2000s, rising to 500,000/yr non-EU migrants by 2022.
In 2023, the UK had 1.2M arrivals, comprising 968,000 non-EU nationals. Illegal immigration (mostly by small boats over the English Channel) is running into the tens of thousands (and those are the ones we know about).
Some of the main source countries have low literacy rates (Pakistan 60%, Nigeria 62%, India 77%, Bangladesh 74%) so it is no surprise that economic productivity has taken a hit due to wage suppression and a growth in the labour supply at the entry level.
Obviously, Bank of England economists suffer from institutional cowardice preventing them from joining the dots, for fear of being branded xenophobic.
Indeed. GDP per capita has been decreasing for some years (effective recession) but this is hidden because the overall GDP is stagnant to minimally increasing via mass immigration.
Obviously it means that on everage immigrants earn less than average (thus bringing productivity down), which is not that surprising with the number you've quoted.
The UK has seen unprecedented mass immigration from outside the developed world over the last 25 years.
250,000/yr non-EU migrants in the 2000s, rising to 500,000/yr non-EU migrants by 2022.
In 2023, the UK had 1.2M arrivals, comprising 968,000 non-EU nationals. Illegal immigration (mostly by small boats over the English Channel) is running into the tens of thousands (and those are the ones we know about).
https://www.ons.gov.uk/peoplepopulationandcommunity/populati...
Some of the main source countries have low literacy rates (Pakistan 60%, Nigeria 62%, India 77%, Bangladesh 74%) so it is no surprise that economic productivity has taken a hit due to wage suppression and a growth in the labour supply at the entry level.
Obviously, Bank of England economists suffer from institutional cowardice preventing them from joining the dots, for fear of being branded xenophobic.
But the numbers don't lie.