Download file to see previous pages...
Before the period of the 1960s the participation of women in the workforce was quite low and even those who were a part of the workforce were discriminated against. During the period of 1946 only 25% of the females who aged more than 30 years old were provided full time employment and 29% of them were provided part time employment (Odriscoll, 2008). By the period of 1958, the figure of fulltime employed women increased to 37% and part time employed females increased to 32% (Odriscoll, 2008). Furthermore, by the period of 1970, the number of full-time employed females who aged more than 30 increased to 51% and part-time employed females decreased to 23%. Due to these discriminatory practices as well as low partition in workforce, the women in Britain started protesting for equal rights during the period of 1996. As a result of continuous protests and hard work, the women in Britain were awarded with equal status or equal rights in workforce and employment under the Equality Act of 2010. The act states that all individuals of Britain are to be treated equally and are not to be discriminated against.
After the period of World War II that ended during the period of 1945, the economy of Britain has several times faced recession and due to this they have even experienced higher rates of unemployment. This is mainly because the exports of the nation have declined. The decline in exports has resulted in badly damaging the local industries such as the textile and the coal mining industries. These industries experienced a set back and various firms operating in these industries came to an end. On the other hand there have been increase in the demand of the services and this has led to flourishing service sector. The service sector businesses that have experienced growth in Britain include the banking and the insurance sector. After the 1970s the unemployment rate of Britain continued to increase and organizations were experiencing several problems with the trade
...Download file to see next pagesRead More
Cite this document
(“UK economy Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1672420-uk-economy
(UK Economy Essay Example | Topics and Well Written Essays - 750 Words)
“UK Economy Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/miscellaneous/1672420-uk-economy.
The rapid increase in production costs due to higher costs of doing business resulted in inflation; thereby reducing consumer purchasing power and real incomes. For instance, the consumers sharply cut down their spending amid low real incomes, which led to negative GDP growth, aggregate consumption, production and saving (BBC Article, 2008).
Economist would consider an ambiguous measure of the economic welfare but not necessarily those measures which exist as an approximation of the gross domestic product as well as the National income which is only achieved when the overall personal income increase. In the UK gross income has not been in tandem with other developed countries.
Broadly, rises in the overall price level of an economy is called inflation. The term stems from the fact that such rises in the price level increase the nominal market value of the real output and thus inflates the nominal GDP. Inflation is typically measured through changes in price level indices of an economy.
The share of GDP accounted for by gross fixed investment varies according to the UK's position in the cycle, but typically fluctuates in a range of 16-17% of GDP. Low levels of investment are often cited as factors behind the UK's poor productivity performance.
According to National Bureau of Economic Research (NBER), recession is a “significant decline in economic activity lasting more than a few months” (Recession Org website). However, a general view about regression
on the GDP numbers for the years 2008 and 2009, one learns that “the economy contracted even more sharply than previously thought in the first quarter of 2009: 2.4 per cent compared to the preliminary estimate of a 1.9 per cent contraction.” (Lynch, 2009) The promising
According to the report the economy of any country is affected by its domestic and international economic conditions that are largely due to the operations of the business units. UK might be stronger in the financial activities and market condition but the international economic situations have a higher influence in the domestic market.
The researcher of this essay will make an earnest attempt to provide an evaluation of the perceived benefits and costs of a single currency in an integrated market. This research is also being carried out to evaluate the case for sterling joining the Eurozone, i.e. adopting the Euro from the point of view of British business.
Importantly, the economy is ranked among the biggest economies that guarantee a large degree of freedom. Major improvements that have been witnessed in the economy since 2003 and an increase in government spending, monetary freedom, investment freedom, trade freedom, fiscal freedom, freedom from corruption, and labor freedom.
6 Pages(1500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic UK economy for FREE!