As we near the deadline for Clash of the Titans entries, we thought we’d provide you with a sense of the economic outlook moving through 2023. The chart displays the 2023 GDP forecasts of several institutions. These convey a sense of pessimism, with the average forecast being -0.76%. Consensus suggests the UK will experience a […]
The turn of the year brought a rapid reduction in NEETs relative to general unemployment. Higher education has had a significant impact on this figure. Whilst employment in 16-24 year olds seems to play a part, a broader assessment presents concerning conclusions.
Investors have flocked to those sectors which they believe will benefit from lasting post-pandemic trends, and avoided those that have proven less resilient – with Information Technology up 29% at one extreme, and Energy down 41% at the other.
Given the importance of the industry to the UK economy, its ability to adapt to these challenges could have significant implications for employment and the pace of the economic recovery
Despite the unprecedented and, as yet, incalculable, cost of government measures, the OBR have stated that ‘we can be confident that the cost of inaction would ultimately have been much higher.’.
There is a risk that following the shock of the pandemic and poor economic recovery, deep seated pessimism may set in for the young, who already feel that their lives will be less prosperous than their parents’.