In a report published yesterday, the OECD speculated that the UK is one of the few members that are certain to face a recession in 2023. It also confirmed that it believes that of those facing recession, the UK will be among the hardest hit.

The first tell-tale sign of a contraction in the economy is expected to be a slowdown in employment, which will turn negative in 2023 and culminate in between seven hundred and fifty thousand and a million jobs lost.

Employment continues to be one of the major litmus tests of growing weakness in the economy.

The OECD believes that one issue that marks the UK from the rest of the G20 is the effect of Brexit on both the supply of cheap labour and supply chains.

Agriculture and hospitality are the worst hit, with labour shortages pushing wages significantly higher.