stabilisers,
they are
inevitable.
economic Hysteresis may
arise, if
(performance) unemployment
persists for
longer period of
The recession that time as the
started in 2008 had worker loses
his/her skills
scarred the UK and is less likely
economy. Although to be employable even if
to develop further
recovery is and has economic recovery is
on a global and achieved. Also, during
taken place, the
national level. periods of downturns, some
government is works are discouraged to
finding it difficult to Unemployment seek work as job prospects
cope with the are low and less
Unemployment worthwhile.
damage that has
been done. The four figures Another interesting thing to
main macro- note is that male
The employment rate for unemployment is
economic objectives those aged from 16 to 64 significantly higher than
of our government for the three months to female unemployment. This
November 2010 was 70.4
are: is likely to be more
per cent, down 0.3 on the involuntary unemployment,
quarter. The number of
Low
people in employment
unemployment (a aged 16 and over fell by
high employment 69,000 on the quarter
rate) to reach 29.09 million.
Male unemployment
Less deficit in the increased by 43,000 on
Balance of the quarter to reach 1.48
Payments million and female
unemployment increased
Low inflation (2% by 6,000 on the quarter to
reach 1.02 million. whereas female workers
is the target) that often work part-time
This rising trend in find it difficult to continue
(Sustainable ) unemployment is working and voluntarily
Economics growth detrimental to the stop working especially if
economy. With fewer they are a lone parents.
It is in the workers to operate on
machinery/spare capacity, Cur
government’s best
the more the actual rent account
interests to manage economic growth will be
and achieve these hindered. More people will The UK current account
aims as it will widen be claiming benefits such recorded a deficit of £9.6
as JSA, which is a burden billion in the third quarter
the prospects for the on the government – JSA of 2010, increased from a
economy, and allowance operate in the revised deficit of
enable it form of automatic £5.2 billion (originally
published as a deficit of
£7.4 billion) in the previous
quarter.