Rising Unemployment in the
UK Economy
Tutor2u
12th November 2008
Economic Growth and Jobs for the UK Economy
5
5
4
4
3
3
2
2
1
1
0
0
-1
-1
-2
-2
-3
-3
30.0
29.5
29.0
28.5
28.0
27.5
27.0
26.5
26.0
25.5
25.0
30.0
29.5
29.0
28.5
28.0
27.5
27.0
26.5
26.0
millions
Person (millions)
Percent
Total employment (bottom pane) and the annual growth of real GDP (top pane)
25.5
25.0
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
07
08
Growth of Real GDP [ar 12 months]
Employment - millions, All aged 16 and over, seasonally adjusted
Source: Reuters EcoWin
CBI Distributive Trades - Employment in Retailing
Net balance
Expected balance of respondents
50
50
40
40
30
30
20
20
10
10
0
0
-10
-10
-20
-20
-30
-30
83
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08
Source: Reuters EcoWin
Claimant Count Unemployment
3.00
3.00
2.75
2.75
2.50
2.50
2.25
2.25
2.00
2.00
1.75
1.75
1.50
1.50
1.25
1.25
1.00
1.00
0.75
0.75
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
07
millions
GBP (millions)
Number of people claiming the Jobseekers Allowance, monthly figure, seasonally adjusted
08
Source: Reuters EcoWin
UK Unemployment, By Duration
Millions, seasonally adjusted, using Labour Force Survey data
1.3
1.3
1.2
1.2
1.1
Unemployed for up to six months
1.0
1.0
0.9
0.9
0.8
0.8
0.7
0.7
Unemployed for over 12 months
0.6
0.6
0.5
0.4
millions
Persons (millions)
1.1
0.5
0.4
Unemployed for over 24 months
0.3
0.3
0.2
0.2
0.1
0.1
0.0
0.0
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
07
08
Source: Reuters EcoWin
UK Consumer Surveys - Unemployment Expectations
Net balance
Net percentage balance of people expecting a rise in unemployment over the next twelve months
60
60
50
50
40
40
30
30
20
20
10
10
0
0
-10
-10
-20
-20
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08
Source: Reuters EcoWin
Unemployment and Inflation - A Favourable Trade Off?
Percent
unemployment and inflation rates - per cent
10
10
9
9
8
8
7
7
6
6
5
Unemployment
Inflation
5
4
4
3
3
2
2
1
1
0
0
89
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
07
08
Source: Reuters EcoWin
Unemployment in the UK Economy
per cent of the labour force
people aged 16-59 (women) / 64 (men), seasonally adjusted
11
11
10
10
9
9
8
8
7
7
Labour Force Survey
6
6
5
5
4
4
Claimant Count
3
3
2
2
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
07
08
Source: Reuters EcoWin