The ERC published a new research paper today on job creation and destruction in the UK economy, based on new analysis of ONS data. The analysis, by Mark Hart and Neha Prashar, shows that established firms are already shedding jobs, and although employment is being buoyed by start-ups, these are prone to high failure rates. Jobs ‘churn’ in private sector saw 4.9m jobs created and destroyed last year. Strong employment figures may be “lulling policymakers into a false sense of security” on the state of the economy.

You can watch Mark Hart summarise the key findings of the research in our new video.

Read the full press release here

Click here to download the Insight Paper