Uk Economic and Labour Market Developments and Change

Introduction:

This essay seeks to undercover the relationship between changes in the UK economy and its impact on labour market; therefore a three part sections are set out to analyze the trends, consequences and HR responses; but unfortunately the word count for this piece of work will inhibit an in-depth explanation. The first part will explore the economic and labour market developments changes within the UK since from the last decade, with more emphasis on the impact of the recent economic downturn. It will assess the organizational and HR responses to the current recession and evaluate the appropriateness of the recovery initiatives used by Honda Company with regards to its impact on the ethnic minorities and job seekers. The second part will focus more specifically on the inequality and disadvantages within London Labour Market. It will provide and explanation for the causes of inequality and disadvantage, considering the extent the forthcoming Equalities Act will help eradicate inequality. And it will highlight the implications of this for policy advisors, organizations and HR practitioners operating in London. Finally, it will conclude by offering guidance and advice on what the future might hold and possible implications for those concerned with policy and people management.

Developmental trends:

The UK economy has continued its long-term structural change within the last decade with a continuing shift in terms of employment from manufacturing towards services. Around 2001 employment in manufacturing had fallen to 14 % of the workforce, with obvious factor emanating from a shift from manufacturing to service sector due to globalization.

Bibliography

CIPD (2009): A call for G20 leaders to unlock the labour market, not just unblock the credit market, for a ‘new world order of work’

Acocella, N. (2005): Economic policy in the Age of Globalisation, Cambridge University Press.