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Evaluate the current status of the UK economy
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Evaluate the current performance of the UK economy Unemployment: The definition of this is: Number or percentage of a set group with out paid employment, but are able, available and willing to work. In recent months unemployment has been on the rise in the UK. However over the past 10 or more years unemployment has fallen and the UK has a lower rate of unemployment than most of Europe and a similar one to the USA. This is surprising considering the large decrease in the production sector of the UK economy. Manufacturing has lost jobs every year for the last 7 years. The Graph opposite shows the number of people in millions unemployed over the last 10 years. As manufacturing and production has decreased other sectors have increased, such as service providers and restaurants and hotels. Inflation: The rise in general prices and the reduction in value of money. Inflation is...
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