Increase of Unemployment in the United Kingdom

In 2011, the rate of unemployment is at 9%. Although there is a decline it has been rather slow. Financial analysts predict that unemployment rate would drop to 8%. Even for the people who still have their jobs the hours that they work have been reduced since then. With reduced hours the productivity of the workers would not be fully exploited which in the end, affects the economy. This is so because with a small fiscal base the economy has not been able to recover from recession fast enough. Although there have been positive growths in the employment rates these growths are barely enough. They do little to help in the dire situation. This only means that joblessness is something that the population would have learned to live with.

In Australia there is a consensus that think that the unemployed don’t want to work and are not willing to find work; this claiming that they are lazy and conning the government for benefits (if they receive them). However, not all unemployed actually enjoy being without a job to survive and struggle with not having enough job opportunities, not being able to work due to lack of qualifications and not willing to take a job that will lead them to deficit (Csoba, 2010). Looking at it from a conflict theorist’s point of view it is people who have the money and the power that generate these limitations that unemployed members of society face. For

Scotland and England united to form the Kingdom of Great Britain in 1707, factors in favor of union being, on the Scottish side, the economic problems caused by the failure of the Darien scheme, which was Scotland’s failed attempt to colonize (Keay, J. & Keay J.).

Unemployment is a major issue as it affects around 1.58 million people in the UK (Clegg, 2017). This is exploited in the media, unemployment and the benefit system is used as entertainment. Television programmes such as Benefits Street (Benefits Street, 2014) do not show unemployed people living off benefits in a good light; they are also always portrayed negatively. Unemployment is seen as a social concern as the media targets people who are on benefits and who fit a stereotype and make them the person that everyone should blame for society problems with unemployment and the economy. This needs to addressed as many people on benefits are seeking work and are not the benefit cheats that the media makes them out to

After years of financial crisis, United Kingdom is now one of the fastest growing economies in the world, with an unemployment rate that dramatically dropped by 3 percent in just a couple of years. Although many credit zero-hour contracts with ending the recession, they are still one of the most controvesial topics in the UK.

However, life has changed, globalization and feminism have had a huge impact on the work environment all around the world. Technology has also made many jobs easier, yet very, very similar. Because of these changes, unemployment has become an issue all around the globe. The government views the unemployment situation as an individual problem.  From the government’s perspective, unemployment is due to the lack of training of the individual.  However, because

During the century, Britain continued to establish colonies in St Lucia (1605), Grenada (1609), St. Kitts (1624), Barbados (1627), and Nevis (1628), with the objective of finding gold deposits underneath the colonies. In the mid-1600s’, the British parliament attempted to further expand its British dominion by creating the first Commonwealth under the leadership of Oliver Cromwell. Unfortunately, this did not last after the death of Cromwell. Finally the official creation of the British Empire started with the “Acts of Union of 1707”, which united the Kingdom of England with Scotland to form the “United Kingdom.” Throughout the four centuries of British colonization, Britain was able to colonize 52 regions, which now makes up 174 different modern day countries, provinces, or states.

When governments look at policies to reduce unemployment, they tend to look at the short term and then the long term. In the short term, they need to ensure there is sufficient demand and economic growth in the economy to help control cyclical unemployment. This is done by adopting

around the globe, explanations of this phenomenom are plenty. How does unemployment serve a purpose, or is it just another chance for the powerful to stamp on those with less power? The

The occurrence of Brexit in the UK economy is already having an effect on the Job market. This is mainly due to uncertainty caused by the UK’s volatile political situation and no full direction by the Brexit campaigners on how the UK’s economy can move forward. The UK job market had not fully recovered from the effects of the recession and added with this uncertainty from leaving the EU, employers aren’t willing to employ workers on a permanent basis as they do not know the long term cost. Therefore, the unemployment rate in the UK is rising but not as drastic in comparison to the financial crisis of 2009. In this essay, I am going to analyse the current labour market in the UK looking at indicators such as; wages, regions, gender and so on with the focus on the Banking and Finance Sector. I will also comment on the specific job role of an Actuarial consultant as this work role involves providing well-informed advice and understanding of mathematics and statistics to make long-term financial forecasts which ironically would be very useful for the UK’s current economic climate. Actuaries help in the decision making processes of private firms and governments as they give clear indicators on what and how financial decisions should be made from the calculations they make and then explain the information calculated in a way that is easily understood. A knowledge of the current situation of this job sector is of high importance as firstly, it’s a field of work that I am

Economists employed by the government are involved in implementing policies, which were especially established to meet government 's objectives that are very often multidimensional. There are four very fundamental objectives for viable economy, including decreasing the unemployment rates in certain regions, lower or stabilise the inflation , constant economic growth and a satisfactory balance of payments position. The UK economy continues to suffer from a number of underlying structural weaknesses. The government is now set on providing the economic framework, which will enhance the opportunity to raise a sustainable rate of economy growth, (Anderton, 2006).

The “Great Recession” is commonly used to explain the massive economic contraction that occurred in the United States during the fourth quarter of 2007. However, the actions of the United States spanned to other nations, leaving massive effect on the global economy. One nation that took on serious financial burden during this recession was the United Kingdom. This nation first faced the effects of the Great Recession beginning in the first quarter of 2008. Overall, the initial mass effects on the nation can be attributed to the nation’s reliance on the financial sector. In fact, after partially stabilizing in 2009, the country struggled with a double-dip recession between 2010-12, and continues to struggle with some of these effects.

The UK’s unemployment rate reached its highest peak in 2011 at just under 2.7 million during the recent recession which economists are calling the Great Recession (BBC News, 2014). Since, however the fall in the rate of unemployment has not been as sharp as many predicted, concerns have been raised over whether unemployment levels in this single period may have a long lasting effect. The issue of hysteresis within the UK and the persistence of unemployment is what this paper will focus on, as well as the reasons why the youth unemployment rate is much higher.

A legend like the United Kingdom is not simply created, it was foraged through hardships and tribulations in order to become an unstoppable force of nature. According to the Encyclopedia Britannica after many conquests by an Anglo-Saxon king, Ireland fell under English rule and formally joined Great Britain in 1800 with the Act of Union. Though Ireland later regained its independence in 1922 but two thirds of the country stayed apart of the United Kingdom. The United Kingdom who was no longer a "Kingdom" but now part of a growing monarchy has endured many throughout the years. According to FiveforThrity, “The United Kingdom is a constitutional monarchy and parliamentary democracy, with a queen and a parliament that has two houses: The House of Lords and House of Commons.” FiveforThrity also states “Supreme legislative power is vested in parliament, which sits for five years unless dissolved sooner as well as the fact that The House of Lords was stripped of most of its power in 1911, and now its main function is to revise legislation.”

Money is essential to any individual looking to have a decent lifestyle; labor is the avenue through which this is acquired. The economy goes through various fluctuations in activity causing unemployment to fall, rise, or level out. What this creates is the first type of unemployment, known as cyclical; frictional is the second type, caused by a temporary leave (for whatever reason) by the employee, and structural is the third type, varying with the economic changes in demand. The absence of unemployment at its maximum level is termed full employment, another version of unemployment. The term encompassing the sum of the frictional, structural, and, yet another type of unemployment, surplus unemployment is that of the natural rate of