Economics CPD Courses Coming up this Term!- Book Your Places Now!
The speech last week by David Blanchflower at the University of Stirling on prospects for the British economy and the rising unemployment crisis received much coverage, but the real value for economics teachers and students comes from accessing the speech itself which is available for download from the Bank of England site.
In the latter part Professor Blanchflower outlines a range of active labour market policies to reduce unemployment (the “shovel ready” jobs from infrastructure projects formed just a small part of his agenda) and there is also an excellent section on the economic and social costs of unemployment.
“In past recessions rising long-term unemployment had a persistent adverse effect on the supply potential of the economy. Rising unemployment may lead to a reduction in the supply capacity of the economy. If workers remain unemployed for sustained periods they may lose their skills, thus reducing their human capital. High rates of long-term unemployment in the economy may mean there is a mismatch between those skills that workers possess, and those for which there is demand. People may also be less likely to participate in the labour market the longer their spell of unemployment persists.”
What a shame that one of the MPC’s most astute participants is coming to the end of his tenure.
FOR MORE REVISION SUPPORT FROM THE TUTOR2U TEAM...
Use the following class codes to join our Zondle revision classes:
Economics: AS Micro 290-66327 AS Macro 290-66328 A2 Micro 290-66329 A2 Macro 290-66330
AQA AS/A2 Business: BUSS1 290-66325 BUSS2 290-66326 BUSS3 290-66323 BUSS4 290-66322
Economics CPD Courses in June 2014 - Book Your Places Now!
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