Supermarket leader calls for policy rethink as unemployment hits its highest level since 2021…

The UK is at risk of “sleepwalking into an epidemic” of joblessness, according to Tesco’s UK chief, Ashwin Prasad.

Speaking at a Resolution Foundation event, Mr Prasad claimed that the UK has seen a steady shift over the past decade, with increasing numbers of people leaving the workforce.

He argued that significantly more people could be economically active if the right measures were in place and is calling for significant change from the government in how it tackles the issue.

“We have been sleepwalking into a quiet epidemic that is keeping millions of people out of work,” he said. “My perspective from leading a major employer in this country is that far fewer people are in work than there could be.”

“This means that instead of investing in parts of national life that might stimulate investment and growth into the wider economy, we are spending an ever-increasing proportion of our national income on out-of-work benefits. We cannot afford to be a country that lets the next generation languish on the sideline.”

Tesco employs approximately 300,000 people across the UK, making it one of the nation’s largest private-sector employers.

Mr Prasad’s remarks come as the UK unemployment rate stands at 5.1% – its highest point since early 2021.

Meanwhile, the National Institute of Economic and Social Research recently warned that UK unemployment could rise to its highest since 2015 this year, partly due to a rising minimum wage and last year’s increase in a tax on employers.