UK sick notes drop to record low The average absence rate last year was down to 5.3 days from 6.5 in 2010, saving business £3bn. Overall, non-attendance is still costing the economy £14bn a year, according to data produced by the CBI and Pfizer. Mental problems such as depression were cited as the most widespread cause of absenteeism. Almost £1.8bn was lost from an estimated one in eight sick days taken as an "occasional perk." The report maintains that more than £1.2bn a year can be saved if public sector absence levels were brought in line with the private sector average, on top of the £700m saved over the past two years.Neil Carberry, CBI director of employment and skills, said: "The record low shows employers are getting much better at tackling the root causes of absence." But research from business advisers PwC shows sick days alone are costing British business almost £29bn a year because workers are taking more than four times as many days off work as their counterparts in Asia.