Overview
In a report format, answer the following tasks focused on unemployment in the UK.
Task 1
According to the ONS in August 2024 the unemployment rate in the UK was relatively low at 4.2%. However, the number of economically inactive people (aged 16 to 64 years) in the UK has increased.
Discuss the unemployment rate in the UK and how it compares to two other OECD countries of your choice.
Taks 2 (LO1, LO2 & LO3)
Identify and evaluate 2 initiatives that the UK government has taken in the last five years to lower this statistic.
Identify who are economically inactive people (demographic) in the UK and discuss why this statistic has increased in recent years.
Task 3
References & formatting The required economics concepts are covered in the Essentials of Economics textbook (Krugman & Wells, 2020) in chapters 14 (main resource for definitions). Useful data can be found on the website of ONS
READING REQUIREMENT
1.Krugman and Wells. 2020. Essentials of Economics. New York: Worth Publishers
2.Ahmad, N. 2024 Lecture 1: Week 10. MOD3327 Economics for Business. Anglia Ruskin University of London.
3. Office for National Statistics (ONS), released 3 March 2023, ONS website, article, Population changes and economic inactivity trends, UK: 2019 to 2026. Available at: https://www.ons.gov.uk/employmentandlabourmarket/p... mploymentandemployeetypes/bulletins/employmentintheuk/may2024
4.Cuffe, R. and Georgieva, G. (2024, June 11). Unemployment: Who are the
millions of Britons not working? BBC News. Available at: https://www.bbc.co.uk/news/business-52660591
Word limit - 2500
The report needs to follow the following structure: -
. Cover page
. Introduction
. TASK 1
. TASK 2
. Conclusion