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Concern after ONS says better employment survey could be years away
The Guardian
|December 04, 2024
Policymakers risk making "misinformed" decisions because they are relying on a defective jobs survey that may not be fixed until 2027, the chair of the Treasury select committee has warned.
The Office for National Statistics (ONS) chief executive, Ian Diamond, wrote to the chair of the cross-party committee of MPs yesterday, saying his "ambition" is to introduce a new, more accurate data series in 2026, but it may not happen until a year later.
The committee chair, Meg Hillier, described the news that it may be two years or more before an accurate picture of the labour market is available as "a major blow".
"These delays will make some of the most consequential decisions taken by the Treasury and Bank of England challenging at best and misinformed at worst," she said.
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