TUC economic quarterly: October 2014

TUC economic quarterly: October 2014
Document type
Report
Corporate author(s)
Trade Union Congress
Publisher
TUC
Date of publication
1 October 2014
Series
TUC Economic Quarterly. No. 5
Subject(s)
Trends: economic, social and technology trends affecting business
Collection
Business and management
Material type
Reports

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The latest TUC economic quarterly report provides an analysis of UK economic and labour market developments over recent months, and includes a spotlight feature on pay and earnings. Key findings:

  • In common with many other countries, there has been a significant revival in UK economic activity from the second half of 2012.
  • Revisions to the National Accounts now show this revival a little stronger than previously thought.
  • Domestic demand appears to be the key factor in expansion.
  • Trade is weak, and there are growing fears of global slowdown.
  • Household and corporate savings have been reduced over the past years, and deleveraging may have stalled.
  • Public sector deficit reduction has slowed, as tax revenues falter.
  • The labour market is expanding rapidly, with the unemployment rate of 6.2 per cent at a six year low, though underemployment continues to play a significant role.
  • Furthermore, earnings growth continues to weaken with official figures at historic lows.

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