UK Economy

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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 various 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 deficit
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