From Inactivity to Unemployment after the Recession

Many people have moved from inactivity into unemployment after the recession. Since the start of the recession in 2008, more people have decided to re-enter the labor market with the goal of finding a job. In the latest period of 2013, 523,000 people moved from inactivity into unemployment. It has increased speedily since 2008. This could be because of the financial pressures put on household because of the recession. (Dow Jones 2014) Also, number of recent welfare reforms may have influenced such as changes to the conditionality for lone parent income support and the replacement of incapacity benefit with support allowance and employment. (Dow Jones 2014) UK Monetary policy Monetary policy includes using interest rates and other financial tools to affect the levels of Aggregate Demand and consumer spending. In the UK, the objective of monetary policy is to keep inflation within the target of CPI 2% +/-1. They also emphasize on other macroeconomic variables such as unemployment and growth. (Tevgan Pettinger 2012) The monetary policy in the UK is set by the monetary policy committee of the Bank of England. They try to meet the inflation target set by the government. (Tevgan Pettinger 2012) During the recession of 2008-2009, the Bank of England used ‘Quantitative Easing’ as part of their monetary policy. This includes creating money electronically such as government bonds from banks to buy assets. Deflationary pressures are avoided and an increase in the money supply is seenShow MoreRelatedThe Problem Of International Business842 Words   |  4 Pagesphysical systems of a business, or nation. Such as, water and sewage. Utilities The satisfaction of the value of money obtained from a person after their consumption of goods. G8 Eight of the world’s wealthiest countries, gather to discuss international economy and issues arising. Recession A large decline in the economy. 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