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These figures gave an official UK unemployment rate of 4.7%. [8] UK unemployment rates consistent with this definition are available from 1971. Considering this consistent time series, the highest unemployment rate recorded since 1971 was 11.9% in 1984 and the lowest was 3.4% in late 1973/early 1974. [9]
This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...
Just a few months later Lawson had to double interest rates and the UK was running its largest ever balance-of-payments deficit. [ 1 ] Critics of Lawson assert that a combination of the abandonment of monetarism , the adoption of a de facto exchange-rate target of 2.95 deutschmarks to the pound, and excessive fiscal laxity (in particular the ...
The second People's March for Jobs began in Glasgow on 23 April 1983. [5] On 5 June between 15,000 and 20,000 people attended a rally in Hyde Park, London, to mark the end of the march, addressed by Labour leader Michael Foot and the general secretary of the TUC, Len Murray.
11 November – Customs officers in Southampton seize more than £50,000,000 worth of cocaine – the most expensive haul of the drug ever found in the UK. 12 November – Unemployment has fallen to 2,700,000 (just under 10% of the workforce), the lowest level of unemployment recorded in Britain for over six years. 17 November
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The Unemployment Rate in the United Kingdom from 1971 to 2014 In 1978, unemployment was high by post-war UK standards with 1.6 million unemployed, between 5 and 6% (though the unemployment rate has remained at or above these levels for most of the UK's subsequent history).
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