This TUC economic quarterly report provides an analysis of UK economic and labour market developments over the three months to February.
In this issue we find
- The recovery remains unbalanced with business investment and net trade lagging expectations
- Improvements in headline employment measures mask concerning regional trends. Falls in real wages continue.
- Since the recession the composition of the UK jobs market has changed, with part-time and self-employed work now more common and higher proportions of people working in lower paid sectors.
- Post-2008 the economy has been marked by exceptionally weak productivity growth.
- While stronger demand is likely to reverse some of the UK’s recent productivity falls, wider economic policy change is also likely to be necessary to deliver a better balanced and more productive recovery.
Issued: 12 February, 2014