UK Economy - 904 Words

UK Economy An analysis of the latest figures for key economic indicators and the factors which have affected these indicators. This should include the figures for unemployment, inflation and economic growth. Unemployment The unemployment rate serves as one of the primary indicators of the overall health of the economy. The current the unemployment rate is at 7.8% (Office for National Statistics, 2012). This does not include a large portion of the population though. There is a large number of people who are considered inactive which means they are not actively seeking work. In some cases these people have given up finding work or maybe going to school or something like that. Another portion of the unemployment rate does not look at people who are currently underemployed or working part-time jobs for lack of a better option. Therefore the current unemployment rate is relatively high, however the actual unemployment counting people that have given up or who are underemployed could be even higher. However, given the recent recession and the devastating effects it had, the unemployment rate has been making significant progress. The government used fiscal policy to serve as a stimulus by spending on vario us projects and services. The public sector is now one of the fastest growing in the economy, however many people argue whether or not this is the best course to take. When the government spends money to serve as a stimulus then this often leaves a budget deficitShow MoreRelatedThe Impact Of Brexit On The Uk Economy Essay1219 Words   |  5 Pagesbetween the UK and their international exchange associates. There are numerous amounts of large businesses, uncertain of future admission to the communal European market for goods and services. This is probable to delay or even freeze their main assets in the U.K. And since global business is extremely interconnected, the prospect of a worldwide economic slowdown becomes more plausible. The effect of Brexit is not solely limited to the UK economy: Britain is one of the major economies in the worldRead MoreUk Economy6689 Words   |  27 PagesAssignment#2 The UK Economy Done by: Saira The economy of the United Kingdom is the worlds sixth-largest national economy measured by both nominal GDP and purchasing power parity (PPP). The UK has the third-largest national economy in Europe measured by nominal GDP (after Germany and France) and the second-largest measured by PPP (after Germany). Its GDP per capita is ranked the 20th highest in the world in nominal terms and the 17th highest in PPP terms. The UK is a member of the CommonwealthRead MoreExploring Structural Change in Uk Economy and Labour Market Inequality in London6203 Words   |  25 PagesMA Human Resources and Employment Management Assignment 1 Exploring Structural Change in the UK Economy and the Extent of Labour Market Inequality Within London: Implications for the HR Function and HR Practitioners Word Count: 4,455 words (main body of assignment) Contents How the structure of the UK economy has evolved and changed since the 1970’s, the impact on organisations and HR functions 3 Overview of key factors responsible for structural change 3 Impact on the external labourRead MoreThe Uk And Its Economy1971 Words   |  8 Pagesimportant referendum for the UK and its economy to resolve whether the UK leaves the EU or not. The decision that will be made by the British citizens will effect on a lot of sectors in many ways. However, it is expected that especially sports industry which has been globally developing nowadays will be the most influenced on by that decision. The purpose of the report is to identify what are the advantages and disadvantages for sport-related organisations caused by the case of the UK leaving the EU. In thisRead MoreUk Imports And The Recovery Of The Uk Economy1873 Words   |  8 PagesEconomics 2 The Case Study: UK imports and the recovery of the UK economy 1. Brief Introduction This case study will look at the meaning of â€Å"balanced economic recovery†, the value of imports to the UK economy, the benefits of a weak British pound, the reasons why the depreciation of pound failed to improve the UK balance of trade and the impact of a rise in taxation and cuts spending on the UK trade deficit. 1. Finding 1 Explain the term â€Å"recovery†. The term â€Å"recovery† means expansion, which showsRead MoreEconomic Growth Of The Uk Economy1707 Words   |  7 Pages(GDP) or potential GDP of an economy. GDP measures the output of goods and services produced by an economy by factors of production located within that economy. The figure above shows the trend of UK’s economic growth from 2008 to mid-2014. As illustrated in the figure the credit crunch of 2007-08 hit the UK economy hard and caused a steeper drop in real GDP than even the great depression of the 1930s. However, due to loosening of monetary and fiscal policy, the UK experienced a partial recoveryRead MoreThe Impact Of Globalisation On The Uk Economy Essay1718 Words   |  7 Pagesthan ever so that every country could be affected by this big event. The globalisation has had profound and lasting influences to UK economy. This essay will firstly focus on the pros and cons of globalisation, then discuss the UK sectors which benefited and suffered from globalisation respectively, finally analysis the overall effect of globalisation on the UK economy. Pros of globalisation First of all, Globalisation helps to promote international division of labour. According to Heckscher-OhlinRead MoreThe Economic Recovery Of The Uk Economy2189 Words   |  9 Pagesresults in a decline in the unemployment rate. It is the period which takes place following a recession in the economy. The economic recovery occurs after a recession and there was a recession in 2007 as shown in the graph below. A balanced economic recovery means that the economy hasn’t recovered primarily because of one aspect for example in the case study it is revealed the UK economy is very much dependent on household consumption and government spending, so in order for the recovery to becomeRead MoreThe Growth And Growth Of The Uk Economy1560 Words   |  7 PagesOver the next five years UK economy is expected to see moderate to strong growth. Consumer spending has been the main economic driver over the past three years, driven by rapid employment growth, a falling household savings rate and supported by continually strong real estate market. This trend is expected to persist in the shorter turn, helped by low inflation that is boosting real income growth and continued historically low mortgage rates. Despite medium term expectations that real consumerRead MoreThe Impact Of Brexit On The Uk Economy1982 Words   |  8 Pageswould the predicted impact of Brexit, on the UK economy, come true? Brexit, Britain’s exit from Europe. On Thursday the 23rd of June 2016, Britain voted in favour of leaving the European Union and standing alone for the first time since 1973. Many predictions and economic forecasts were made pre referendum, but to what extent were these scaremongering tactics or how accurate were they? I intend to examine the economic impact of Brexit, so far, on the UK economy and whether it is ethically correct for