2. GDP Growth and Jobs for the UK Economy
Exploring links between the economic cycle and the labour market
11 11
Unemployment rate (%, LFS measure)
9 9
Percent
7 7
5 5
3 3
6
4 4
2
1
Percent
0
Annual growth of real GDP (%)
-2 -2
-4
-5
-6
-8 -8
29.75 29.75
Employment, All aged 16 and over
Person (millions)
29.25 29.25
millions
28.75 28.75
28.25 28.25
27.75 27.75
27.25 27.25
00 01 02 03 04 05 06 07 08 09 10 11
Source: Reuters EcoWin
3. Unemployment in the UK Economy
Unemployed people aged 16-59 (women) / 64 (men), seasonally adjusted
13 13
12 12
11 11
10 10
9 9
per cent of the labour force
8 Labour Force Survey 8
7 7
6 6
5 5
4 Claimant Count 4
3 3
2 2
1 1
0 0
70 72 74 76 78 80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10 12
Source: Labour Force Statistics
4. Unemployment Expectations
Net % balance of people expecting higher unemployment in the next year
80 80
70 70
60 60
50 50
Balance
40 40
30 30
20 20
10 10
0 0
00 01 02 03 04 05 06 07 08 09 10 11
Source: Reuters EcoWin
5. UK Unemployment, By Duration
Millions, seasonally adjusted, using Labour Force Survey data
1.6 1.6
1.4 1.4
1.2 1.2
Unemployed for up to six months
1.0 1.0
Persons (millions)
millions
0.8 0.8
0.6 Unemployed for over 12 months 0.6
0.4 0.4
0.2 0.2
Unemployed for over 24 months
0.0 0.0
03 04 05 06 07 08 09 10 11
Source: Reuters EcoWin
6. Unfilled Vacancies in the UK Labour Market
Three month average, seasonally adjusted
700000 700000
650000 650000
600000 600000
Number of
550000 550000
500000 500000
450000 450000
400000 400000
01 02 03 04 05 06 07 08 09 10 11
Source: Reuters EcoWin
7. Redundancies in the UK Economy
Monthly total
325000 325000
300000 300000
275000 275000
250000 250000
redundancies
225000 225000
200000 200000
175000 175000
150000 150000
125000 125000
100000 100000
04 05 06 07 08 09 10 11
Source: Reuters EcoWin
9. Euro Zone and UK Unemployment
Percentage of the labour force, seasonally adjusted; 2011 forecast is from the OECD
11 11
Euro Zone average
10 10
9 9
8 8
7 UK unemployment rate 7
6 6
5 5
4 4
91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
Source: Reuters EcoWin
10. Percent
Annual % growth of real GDP Unemployment (% of labour force)
Source: Reuters EcoWin