Strategies for Unemployment Reduction in the UK: An Economic Report

This report examines the measures the UK government is employing to reduce unemployment in the medium and long term. It identifies key strategies such as boosting human capital through training and skills development, lowering employment taxes to stimulate demand for labor, and improving export incentives to encourage business growth and job creation. The report emphasizes the importance of creating new job opportunities and enhancing the overall productivity of the workforce to achieve sustainable economic growth and reduce unemployment rates within the UK economy. The conclusion reinforces that a multi-faceted approach, including investment in human capital, tax adjustments, and export promotion, is crucial for the UK government to effectively address unemployment challenges.

Economics for
Business

Table of Contents
INTRODUCTION ..........................................................................................................................3
How can the UK government reduce unemployment in the UK in the medium and long term?
.....................................................................................................................................................3
CONCLUSION ...............................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Economics is the study of that branch which is concern for analysing the overall
production, manufacture, transfer of wealth and the certain application in which they are
operating their business. The main consideration of this aspects is to ensure the higher
profitability with in the market and maintain the overall GDP. This report will analyse the
measure by which the UK government is reducing employment. This also helps the overall
functionality of the economy.
How can the UK government reduce unemployment in the UK in the medium and long term?
Unemployment is defined to the people who have been unemployed for status and
working. This also implied in getting overall dissatisfaction among the human capital. In today's
time, there is no use of advance technology by which the use of human are reducing day by day.
In addition to this, here are various measures which is taken by the government of UK with the
aim of reducing unemployment that are given below:
Boosting human capital: in order to have the skilled employees who can improve the
overall functionality of the business. Foe that, they must given proper training and learning so
that they can work on their weak areas and be efficient in the given job role. A long run strategy
is to make the employees more employable and to raise the overall of labour productivity by
which they cab rightly work in the given job role.
Lower employment taxes: government must emphasis on reducing the overall taxation
which is being imposed on the government so that it can leads to increase the overall demand of
the employees. It includes reduction in the national insurances which implied in having better
services to their employees and provide their better working opportunities to work in their choice
of area.
Improving export incentives:It is vital for the firms to increase the employees working
incentives so that hey can work with more efficiency by which they can get better results within
the organisation and move towards higher growth and revenue. Government focuses on the
overall productivity of the employees so that they can give their best in attaining the
organisational goal within the UK economy.
Creation of new jobs: in order to reduce the overall unemployment within the UK
economy, the government must focuses on opening various jobs opportunities so that large group

of talented people can have the better approach to get their desired job in which they can
showcase their skills and abilities in order to get better results within the organisation. This is
leading to have the enhancement of the UK economy.
CONCLUSION
From the above discussion, it is concluded that there are various ways by which the UK
government can reduce the overall unemployment from the county which includes boosting of
human capital by provide them better training, reducing employment taxes and improve the work
incentives so that they can perform better in their given job role.

REFERENCES
Books and Journals
Chadha, S. and Seth, H., 2021. Ownership structure and capital structure: a panel data
study. International Journal of Business Innovation and Research, 24(3), pp.385-396.
Elshamy, H.M., 2021. Advanced Study on Economic Structural Change and Economic Growth
in Egypt. Insights into Economics and Management Vol. 10, pp.133-139.
Pererva, P. and et. al., 2021. Methods for Assessing the Investment Attractiveness of Innovative
Projects. Studies of Applied Economics, 39(6).
Tsounis, N. and Vlachvei, A. eds., 2021. Advances in Longitudinal Data Methods in Applied
Economic Research: 2020 International Conference on Applied Economics (ICOAE).
Springer Nature.