Content Type
Blog Posts
Economic inactivity trends in London: Are Londoners aged 50 and over leaving the London labour market? An update
Posted over 3 years ago
While London’s unemployment rate has fallen to a record low in recent months, the number of economically inactive Londoners (those not seeking and/or unavailable for work) has risen. Previous GLA Economics analysis highlighted a particular increase in the number of older workers leaving the labour market since the coronavirus pandemic. There are now around 88,000 more inactive Londoners aged between...
London's Economy Today - editorial - November 2022
Posted over 3 years ago
UK economy likely heading into a recession This month saw the outlook for the economy come into clearer focus. The Government announced the future of the Energy Price Guarantee (EPG) and the Bank of England and Office for Budget Responsibility (OBR) released official forecasts just as the Office for National Statistics (ONS) published Q3 UK GDP data. At the same...
London labour market projections 2022 – Interim update
Posted over 3 years ago
London’s economy has generated employment at an unprecedented rate over the past 30 years, adding nearly 2m jobs since 1991. But what can we expect over the next 30 years? To help answer this question, GLA Economics has published an interim update of its long-term employment projections. This supplement provides an overview of the report, highlights the main findings –...
London's Economy Today - editorial - October 2022
Posted over 3 years ago
Reverberations of mini-Budget continue to echo through the economy Last month’s LET editorial discussed the tax cuts (worth £45 billion in 2026/27) announced in the mini-budget on 23 September 2022. The current Chancellor of the Exchequer, Jeremy Hunt, has reversed £32 billion worth of these measures, including the planned reductions in corporation tax, and the basic and additional rates of...
The Survey of Londoners 2021-22 – understanding life after the initial stages of the pandemic
Posted over 3 years ago
The City Intelligence Unit has published the headline findings from the Survey of Londoners 2021-22, a major social survey designed to assess the impact of COVID-19 and associated restrictions on key social outcomes for Londoners, not available from other data sources. It follows up on a similar survey that we undertook in 2018-19. Over the last two years, we have...
London's Economy Today editorial - September 2022
Posted over 3 years ago
Expansionary mini-Budget risks stimulating inflationary economic boom Last Friday 23 September, the Chancellor, Kwasi Kwarteng, presented his first fiscal statement. The policies were very expansionary with cuts to income tax and national insurance, stamp duty reductions, and cancelling of the proposed increases in corporation tax. Net permanent tax cuts as a share of GDP are set to be more than...
London macroeconomic scenarios (August 2022 update)
Posted almost 4 years ago
GLA Economics published itslatest macroeconomic scenarios-based forecast for London on 25 August[1]. The two main outcome variables are real Gross Value Added (GVA) – a measure of London’s output – and workforce jobs (WFJ) – a measure of employment. We project both variables over the medium term (to the end of 2024) and we also project GVA over the longer...
London's Economy Today editorial - August 2022
Posted almost 4 years ago
Inflation rises strongly again Annual UK Consumer Price Index inflation (CPI) rose to 10.1% in July, up 0.7 percentage points from the June rate of 9.4%, according to the Office for National Statistics (ONS). This is the highest rate of inflation since 1982, according to ONS modelling. Rising food and non-alcoholic drink prices made the largest contribution to the change...
The cost of living - August 2022 update
Posted almost 4 years ago
The cost of living crisis increasingly dominates the outlook for London, threatening to widen existing inequalities, halt the recovery from the pandemic and push many into being unable to afford necessities. Our latest report builds on previous work at the start of this year to set out an evidence base on the impact of the cost of living crisis on...
The State of London Report and Dashboard
Posted almost 4 years ago
Regular readers of LET will know that this supplement normally takes a deep dive into a piece of research or analysis about London’s economy that we have been working on. This edition takes a slightly different form, bringing your attention to a new GLA publication called ‘The State of London’, a collaboration between analysts in City Intelligence (the wider Unit...