Business Environments - Labour Market and GDP Development in the UK

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Coursework - Labour Market and GDP Development in the UK

Business Environments - Management

Part I:

1. Historical Development of the Labour Market

The history of unemployment in the UK is also an important element in the economic and social history of the country. Marginal changes of the labour market may impulse economic and profound reaching change in society. The major changes of the last years were an increase of the unemployment rate, a decrease of job opportunities in the economic sector, flexibility of working times (e.g. part-time work) and a higher demand for high qualified employees (Bertola, 1999).

The unemployment rate is the most common indicator to evaluate the economic situation of a city, region or nation. This statistic shows the demand for employees as well as the wealth and prosperity of a certain area. The UK suffers from/of inter-regional disparities. The development of the unemployment rates of south east England, the Midlands or north England are different. These significant disparities were clearly seen in the mid 90's. The big recession in the finance sector led to a higher unemployment rate in the London region.

At the beginning the graph shows a very