Bank of England Governor Andrew Bailey described the UK economy as an economy with “low recruitment and low layoffs,” which explains why it is difficult for more and more young people to find jobs. Currently, the unemployment rate for 16-24 year olds has reached a new high in more than a decade. The labor market lacks mobility, and “it's really difficult for people who don't have jobs and are trying to enter the labor market.” There are initial signs that some employers are using artificial intelligence to replace human demand. However, he refuted the claim that this was the main cause of the weak labor market and cautioned that “it is still in a very early stage.”

Bank of England Governor Andrew Bailey described the UK economy as an economy with “low recruitment and low layoffs,” which explains why it is difficult for more and more young people to find jobs. Currently, the unemployment rate for 16-24 year olds has reached a new high in more than a decade. The labor market lacks mobility, and “it's really difficult for people who don't have jobs and are trying to enter the labor market.” There are initial signs that some employers are using artificial intelligence to replace human demand. However, he refuted the claim that this was the main cause of the weak labor market and cautioned that “it is still in a very early stage.”