Exploring Structural Change in Uk Economy and Labour Market Inequality in London

MA Human Resources and Employment Management

Assignment 1
Exploring Structural Change in the UK Economy and the Extent of Labour Market Inequality Within London: Implications for the HR Function and HR Practitioners

Word Count: 4,455 words (main body of assignment)

Contents How the structure of the UK economy has evolved and changed since the 1970’s, the impact on organisations and HR functions 3 Overview of key factors responsible for structural change 3 Impact on the external labour market, the employment relationship, the psychological contract and the policies and practices of HR departments 4 Challenges the 2008 recession has brought for organisations and how organisations and HR departments have responded 6 Analyse and assess the regional economy and labour market of London, highlighting labour market participation rates of different societal groups 8 Key Characteristics of the Regional and London’s Economy 8 The Labour Market of London 8 Labour Market Participation Rates of Different Societal Groups in London 9 Potential Causes and Reasons for any Labour Market Inequalities in London 11 Labour Market Demand Factors 11 Labour Market Supply Factors 13 Distinctiveness of London and possible changes over the next five years 14 Significance for the skills competencies and knowledge of HR professionals operating in the region 14 Conclusion 16 Appendix 18 References 20

How the structure of the UK economy has evolved and changed since the 1970’s, the impact on organisations and HR functions
Since the 1970’s, the UK economy has undergone fundamental structural changes moving away from one dominated by manufacturing to post industrial, service based economy.
Manufacturing had accounted for almost 30 % of Britain's Gross Domestic Product. Employment in manufacturing has since reduced by half with a similar fall in the public sector. Employment in the service sector, by contrast doubled in 2000, with the fastest

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