Changing economy

• In the early 2000s, the UK’s economy grey strongly and unemployment decreased, partly because of te government‘s priorities

  • investment into new technologies
  • Investing into university education
• in 2008, the UK entered a recession where businesses failed, GDP decreased and employment decreased. The government changed policies

  • supported businesses so they didn’t collapse
  • Decreases taxes to encourage spending
  • Borrowing money from overseas
• the recession ended late 2009 and the government focused on paying off money and healing people find jobs:

  • cut spending on public services to raise money
  • providing training for job seekers
• employment sectors

  more people work in quaternary industries (ICT, research)

  secondary industry jobs have decreased (eg manufacturing)

  people in primary production (farming and mining) and tertiary industry (retail) stayed steady
• overall, working hours are decreasing

  • decreased by 1.6 hours a week between 2001 and 2014
  • decreased more for men than women

  there’s been an increase in people working part-time