Uk Economy Stat (growth And Unemploymen)

Question 1

Unemployment rates in the UK

Answer 1

4.4 percent which is an increasing figure, cyclical unemployment usually 3.5 to 3.8 percent,
-but ONS did have issues with this study and had to use a smaller sample size meaning it’s more likely to be inaccurate

Question 2

Employment rate

Answer 2

-75.1 percent
-lower than employment before Covid

Question 3

Wage growth

Answer 3

5.9 percent wage growth
-expected to decrease which is good for inflation but not for workers

Question 4

Youth unemployment

Answer 4

14.6 percent showing a loose labour market

Question 5

Consumer confidence and reasons

Answer 5

-consumer confidence is very weak ever since the cost of living crisis started
-interest rates have jumped up
-hugher taxation
Low house price growth
Trumps tariffs

Question 6

CPI inflation rate

Answer 6

2.6 percent
-still beyond the target but is still disinflation as it’s much lower than previous years
-is expected to rise slightly in the passing months but will overall decrease over the next few years

Question 7

Core inflation rate and definition

Answer 7

-3.4 percent
-CPI inflation but without price volatile items in the basket

Question 8

Produced price inflation

Answer 8

-0.3 percent
-measures the change in price of basket goods as they’ve been manufactured, measures input prices of inflation for firms