Ian Diamond, chief executive of the UK Statistics Authority, which oversees the Office for National Statistics (ONS), has pleaded with MPs to be patient on the transition to the Transformed Labour Force Survey (TLFS).
At a Treasury Committee hearing today (4 February), Diamond told politicians he "lies awake at night thinking about" the Labour Force Survey (LFS), a report that helps to inform the Bank of England's (BoE) monetary policy decisions and was previously suspended amid concerns about its accuracy. To remedy this issue, the statistical office revamped the survey and is currently in the process of transitioning to an online TLFS, with the deadline for the transition set for December 2027. Cost of Labour Force Survey revamp nearly doubles in a year to £40.4m "Please, please, please do n...
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