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Request PDF | Modern economy | Modern Economics explores economic concepts, current issues and trends with Robert Mudida of the Central Bank of Kenya.
Unemployment in the UK fell by 21% last year – despite the fact that the EU as a whole, the unemployment rate remains high. Data suggests that the poverty rate has risen sharply, with the UK poverty rate at 26% last month, up from 26% a year earlier. More than half of the people who are unemployed live in England, up from 42% in the past decade among the population aged 16 to 24.
According to the report of the Bank of England, the unemployment rate in the country in 2011 amounted to 5.9%.
UK public debt in 2011 rose to a record $153 billion, the highest since 1983.
The UK unemployment rate fell to 5.4% in October.
According to the Bank of England:
total household debt is growing;
it is expected that the budget problem will lead to an increase in state. debt;
excluding tax-free interest payments, the total debt is $63.2 trillion;
raising taxes in relation to earnings will have a significant impact on the level of real wages;
the volume of debt in real terms is practically unchanged: Â£138bn in 2011 and Â£121bn in relation to 2010;
the development of industrial enterprises is important, but as the supply of labor decreases, a trend towards curtailing production begins to be observed;
it is expected that the tax burden by 2017 could increase from the current Â£68.5bn to Â£78.4bn;
the ratio between household income and expenditure remains unchanged;
stocks have increased;
the consequences of the downturn in the labor market, according to the Bank of England, have worsened;
The UK is the sixth largest economy in the world in terms of GDP, but despite the growth of the economy, the inflation rate in the UK remains significant;
the UK unemployment rate fell to a record low of 5.6%.

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