Analysis of UK Labour Market: Employment, Unemployment, and Trends

This report provides an analysis of the UK labour market, focusing on employment and unemployment trends. It highlights that the employment rate increased to approximately 75.3%, while the unemployment rate decreased to 4.5% in 2021. The growth of start-ups and small businesses in the UK is contributing to increased employment opportunities. The report also examines the nature of unemployment in the UK, noting that the unemployment rate is at its lowest since 1975. It identifies the composition of the long-term unemployed, including those unemployed for less than six months, between six and twelve months, and over a year. The report concludes that addressing long-term unemployment is crucial for the UK's economic growth and development. Desklib offers a variety of resources including past papers and solved assignments to aid students in their studies.

Labour Market

Introduction
A labour market is defined as the place
where all the workers and employees
directly interact with each other. It is
kind of market which refers to the
supply of and effective demand for the
labour.

Labour market in UK includes the supply of and
demand for the labour effectively, determining
the needs of the labour. The labour force
estimates 2021 helps in determining the
employment rate increased by 0.5% points to
approx. 75.3% as well as it is also analysed that
the unemployment rate is reduced by 0.4% to
4.5%. The number of start-up and small business
are growing in the UK market which helps in
enhancing the employment rate effectively,
leading to offer large number of opportunities as
well.

Nature of unemployment in UK
 The labour market has been impacted the
most, leading large number of workers
losing their jobs due to various personal
and professional issues.
 In case of UK, the employment rate was
determined to be around 4.5% considered
to be lowest rate in the 2021.
 There has been reduction in unemployed
workers of around 152,000 from the last
year, it is determined to be the lowest
unemployed rate since 1975.

Who make up the long term
unemployed in the UK and why?
 The long tern employment in the UK
reefers to the share of all the employed
individual from 12 months or more in the
total figures of active individual in the
labour market.
 There are more than 800 thousand
workers in the UK who comes under the
category of unemployment for the less
than 6 months. And there are around 303
thousand people being unemployed for
more than 6 months and less than 12
months along with 445 thousand people
being unemployed for more than a year.

Conclusion
From the above presentation, it has been concluded that increasing long term
employment across UK is directly leading to impact the growth and development of
the economy. This presentation helps in analysing the labour market condition of the
UK, along with the rate of employment and unemployment. Also the long term
unemployment rate in the UK is also analysed.

References
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Comparative perspectives on labour market policies. Edward Elgar Publishing.
 Auer, D. and Fossati, F., 2019. The absent rewards of assimilation: How ethnic
penalties persist in the Swiss labour market. The Journal of Economic Inequality,
17(2), pp.285-299.
 Diamond, J., 2018. Employment status persistence in the Japanese labour market.
The Japanese Economic Review, 69(1), pp.69-100.
 Forges Davanzati, G. and Giangrande, N., 2020. Labour market deregulation,
taxation and labour productivity in a Marxian–Kaldorian perspective: the case of
Italy. Cambridge Journal of Economics, 44(2), pp.371-390.