E Competitive markets
                                                    2.4 Unemployment

Why is it significant?

Efficient labour markets and flexible workers are necessary for a successfully functioning economy. 

How does the UK perform?

Comparisons of unemployment rates across the G7 show the UK performing well by European standards.  The US and Japan are still the strongest performers on unemployment, although in Japan the rate has been increasing steadily over time (Chart 2.4.1). Long term and youth unemployment shows that both the US and Japan are relatively good performers (Chart 2.4.2).  On these measures, the UK performs well by European standards, especially in terms of the long-term unemployed where the rate has also fallen since 1998. 


Last updated on 20 November 2003