The changing economy of the UK

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How is the economy changing?

Primary sector- this has rapidly declined. For example in 1980 600,000 people were employed in coala mining however in 2010 only 6000 people were. This is an 80% decline.

Secondary sector- this has also declines. In 1980 250,000 people were employed in iron and steel works but in 2010 only 20,000 people were. There has been deind ustrialisation.

Tertiary sector- has had rapid growth in areas such as health, education and retail.

Quaternary sector- this is starting to increase. In 1980 767,000 people were employed in IT and now in 2010 1.1 million people are now employed.

Why has the economy changed?

Primary- there was a loss in mines as they became too expensive to run so they were privatised. As a result the companies went through stream lining to reduce costs and jobs were lost. Also companies went through automation and mechanisation. As a result the efficiency of material extraction increased. This led to over exhaustion of raw materials and cheaper foreign competition especially in open cast mines instead of narrow deep pit mines as a result many mines were closed and jobs were lost.

Secondary- many strikes over pay happened in the 1970s which disrupted production and aas a result industry began to move over seas. Also, cheap foreign competition from contries like China an India encouraged companies over seas. The government privatised British steal works in 1988 to stop finacial losses. New private companies cut jobs to streamline and become more efficient which lead to creater profits.

Tertiary- varied incomes, a cleaner may earn £250 a week where as a banker may ear £500 a week.  Overall, there has been growth because Britain is becoming wealthier and so more people can pay for services. Also, there is large government investment in health and education, this growth in education means that people are qualified to gain these skilled positions

Quaternanry- the Uk is known for web design, pharmaceuticals and chemicals. It is an important sector because the jobs are high skilled, paid and taxable, plus, they employ graduates. They also attarct TNCs which have wealth to invests. Research and design aleads to new products fro export earnings

Changes in the structure of the workforce in the last 50 years:

How are jobs classified? 

  • skilled or unskilled
  • responsible or…

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