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UK economy - Essay Example

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Britain lacks in the area of natural resources and it mostly imports natural resources from other nations to produce its finished goods. But it does have access to certain natural resources such as…
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UK economy
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UK economy

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
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