As ministers insist the labour market is merely “normalising”, the numbers tell a more troubling story — especially for the young. In this essay, Damian Pudner, an independent economist specialising in monetary policy, argues that Britain is sliding into a slow-burn recession under Rachel Reeves, with youth unemployment surging and entry-level jobs disappearing. Higher payroll taxes, tighter regulation and rising business costs, he warns, are scarring a generation before their working lives have properly begun — with consequences that could haunt the economy for decades.

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