Economic Update

 
What can the UK learn from China?

A new TUC report The Way of the Dragon: What can the UK learn from the rise of China & East Asia? was recently launched at an event chaired by Linda Yueh, the BBC's Chief Business correspondent. You can now see key points and footage from the event in this storify.

Is our labour market on the up?

Anjum Klair looks at the latest Labour Market Statistics. The unemployment rate is now 6.8% and the level has fallen again to 2.2 million, its lowest since January 2009. Employment levels have also increased and the employment rate is recovering, reaching 73% which is close to pre-recession levels.

But despite this welcome news concerns about under-employment and the rise in self-employment remain. With real pay at best stagnating and still decreasing for many, a full labour market recovery remains a long way off.

The UK coal industry needs a rescue plan

Philip Pearson sets out the alternative to the government's plan for "managed closure" of two of the UK's last coal mines, which will leave only one deep coal mine open. The TUC and NUM are making the economic case for the government to seek EU state aid, which has been provided in other countries as a model to support the coal industry. Early closure of the UK's mines would be bad news for the workforce, local communities and the wider economy as well as making the UK more dependent on imported coal. 

What is happening to social mobility in the UK?

The TUC recently launched a new Touchstone Extra Dismantling the Barriers to Social Mobility by Declan Gaffney and Ben Baumberg. The launch event was chaired by Phil Collins from The Times and Alan Milburn, Chair of the Social Mobility and Child Poverty Commission was the keynote speaker. Panellists included Kay Carberry, TUC Assistant General Secretary, Baroness Claire Tyler, Liberal Democrat peer and Vice-Chair of the All Party Parliamentary Group on Social Mobility and Stephen Timms MP, Shadow Employment Minister. Ben and Declan set out key findings from the report and you can follow the event's discussions in this storify.