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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]
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.
The term stagflation, a blend of "stagnation" and "inflation," was popularized by British politician Iain Macleod in the 1960s, during a period of economic distress in the United Kingdom. It gained broader recognition in the 1970s after a series of global economic shocks, particularly the 1973 oil crisis , which disrupted supply chains and led ...
Britain's economy remained strong with low unemployment into the 1960s, but towards the end of the decade this growth began to slow and unemployment was rising again. Harold Wilson , the Labour leader who had ended 13 years of Conservative rule with a narrow victory in 1964 before increasing his majority in 1966 , was surprisingly voted out of ...
Annual inflation was 18.0% in 1980, 11.9% in 1981, 8.6% in 1982 and 4.6% in 1983. [citation needed] Interest rates generally declined during the recession from a peak of 17.0% at the beginning of 1980 to a low of 9.6% in October 1982. [citation needed] Early 1990s recession
The economic boom saw strong economic growth during the second half of the 1980s, sparking a sharp fall in unemployment, which was still in excess of 3 million at the end of 1986, but had fallen to 1.6 million (the lowest for some 10 years) by the end of 1989.
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. [2] [1] [3] Long-term effects of the early 1980s recession contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries, [3] the US savings and loan crisis, and a general adoption of neoliberal ...
By the early 1980s, some 80% to 90% of school leavers in France and West Germany received vocational training, compared with 40% in the United Kingdom. By the mid-1980s, over 80% of pupils in the United States and West Germany and over 90% in Japan stayed in education until the age of eighteen, compared with barely 33% of British pupils. [ 77 ]