- ILO has downgraded its Global Employment Outlook forecast for 2012 and 2013, revising upwards global unemployment rates to 6.1 per cent this year and 6.2 per cent in the next, an increase of 0.1 percentage point in each year
- Unemployment expected to remain at over 6 per cent until 2016.
- In England more workplaces reported higher rather than lower output in February 2012 compared with November 2011
- A higher share of workplaces report that output was higher rather than lower in February 2012 compared with February 2011
- The balance of expectations for output in May 2012 compared with February 2012 is positive across all regions, with the majority of workplaces expecting higher output
- In the first quarter of 2012, retail employment rose by 0.4% compared with the same quarter a year earlier, the equivalent of 3,011 more full-time jobs.
- During the same period the number of retail outlets grew by 4.9%, a net increase of 858 shops.
- The chained volume measure of GDP decreased by 0.2 per cent in Q1 2012
- Output of the production industries decreased by 0.4 per cent in Q1 2012, following a decrease of 1.3 per cent in the previous quarter
- Construction sector output decreased by 3.0 per cent in Q1 2012, following a decrease of 0.2 per cent in the previous quarter
- Output of the service industries increased by 0.1 per cent in Q1 2012, following a decrease of 0.1 per cent in the previous quarter
- GDP in volume terms is flat in Q1 2012, when compared with Q1 2011
Commenting on the news that the UK economy is back in recession, TUC General Secretary Brendan Barber said:
‘This is worse than expected. There has been no growth over the last year, and the economy is 0.5 per cent smaller than six months ago.”
The UK economy has returned to recession, after shrinking by 0.2% in the first three months of 2012.
- In 2010 GDHI per head was above the UK average (£15,709) in England as a whole and in three NUTS1 regions: London, the South East and East of England.
- Between 2009 and 2010 the rate of annual growth in GDHI per head increased in all NUTS1 regions except for the North East.
- In 2010, Wales, London and the South West had the highest annual growth in GDHI per head at 3.3 per cent.
- Of the 37 NUTS2 sub-regions, in 2010 Inner London had the highest GDHI per head (£23,846) while West Midlands had the lowest (£12,678).
- Of the 139 NUTS3 areas, in 2010 Inner London – West had the highest GDHI per head (£33,323) while Nottingham had the lowest (£10,702).
- When considering the population aged 65 years, life expectancy is provisionally estimated at 21.0 years for women (20.8 in UK) and 17.4 years for men in the EU27 (18.1 in UK)
- As regards healthy life years, women at the age of 65 in the EU27 in 2010 were expected to live a further 8.8 years in a healthy condition (11.8 in UK) , and men 8.7 years (10.8 in UK).
Average of new forecasts for 2012
- GDP growth 0.6%
- CPI Q4 2.3%
- RPI Q4 2.6%
- Claimant unemployment (Q4: mn) 1.77
- Current account (£bn) -25.3
- PSNB (2012-13: £bn) 105.3
Average of new forecasts for 2013
- GDP growth 1.7%
- CPI Q4 2.0%
- RPI Q4 2.7%
- Claimant unemployment (Q4: mn) 1.72
- Current account (£bn) -22.3