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Unemployment in UK - Impact of Pandemic and Recovery Plan

Present a brief economic recovery plan for the UK, focusing on unemployment and using current UK economic data and Paul Krugman's economic theories.

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Added on  2023-06-18

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This article discusses the impact of pandemic on UK's unemployment rate and economic growth. It also talks about the UK's recovery plan to reduce unemployment rate and boost economic growth. The plan includes job retention bonus, VAT cut on tourism and hospitality, Kickstart job scheme, and investment in employment support schemes, training and apprenticeships. The article also highlights the importance of tackling structural change, frictional unemployment, and implementing Keynes theory of employment.

Unemployment in UK - Impact of Pandemic and Recovery Plan

Present a brief economic recovery plan for the UK, focusing on unemployment and using current UK economic data and Paul Krugman's economic theories.

   Added on 2023-06-18

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Unemployment in UK
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Unemployment in UK - Impact of Pandemic and Recovery Plan_1
Table of Contents
REFERENCES................................................................................................................................6
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Unemployment in UK - Impact of Pandemic and Recovery Plan_2
There is high rise in UK unemployment rate since pandemic. It has affected on
economic growth. Due to pandemic the overall economic growth of UK has adversely affected.
This is because of various factors such as rise in unemployment rate, decrease in demand,
decrease in household income, etc. (Krugman, & Wells, 2020) However, in UK there is high rise
in unemployment rate in UK.
It is found from above graph that in 2020- 21 the unemployment rate is 4.8%. this is found
in people of age 16 years and above.
Thus, it requires to develop a recovery plan strategy in order to reduce unemployment rate in
UK economy. The plan will help to recover economic growth of UK. Thus, the plan is based on
4 points which are defined as below :
Here, first is that UK will provide various opportunities to people and business to recover
employment. In that various measures are taken (UK unveils economic recovery plan to create
jobs, 2020). They are as below :
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Unemployment in UK - Impact of Pandemic and Recovery Plan_3

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