The ONS confirmed the Transformed Labour Force Survey timeline slips to 2027, with groundwork starting in August. Data quality issues persist, complicating BOE rate decisions.
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The ONS said the transition to the Transformed Labour Force Survey will not be completed until 2027, a further delay from the November 2026 target. Preparatory work begins in August, the office said Friday.
The overhaul was prompted by falling response rates in the Labour Force Survey, which have raised questions about data quality since 2023. The ONS described the update as laying the groundwork for improvements to the labour market data.
James Benford, the ONS director-general for Surveys and Economic and Social Statistics, said the data has been "challenging" and the latest steps aim to address the issues. The timeline is now set for 2027, he said.
The data gaps have complicated the Bank of England's labour market view, adding to uncertainty for sterling traders. The ONS said the full transition is expected next year, with no specific date given.
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