10-20 MIN READ
This COVID-19 briefing note covers four broad themes:
Economic Output and Labour Marketing Updates: In recent weeks, there have been a series of economic data
releases which give grounds for optimism.
- The UK economy grew in April 2021
- The Bank of England forecasts the strongest period of growth since the Second World War.
- Whilst unemployment grew slightly (0.1%) between February and April 2021 in Scotland, it is only 0.5% higher than pre-pandemic levels and demand for labour is rising
Underlying Labour Market Challenges: But, there is some emerging evidence that these headline figures are
masking some worrying trends for young and older members of the labour market. Although, as noted,
labour market shortages may present opportunities for those most impacted.
Strategy Responses: the CBI and the LSE /Resolution Foundation, have published some papers on how to
address the economic challenges facing us over the next decade. A summary of these are noted.
The Role Of The Foundational Economy: The LSE / Resolution Founds work highlights the importance of Place
in any new strategies. This note links the role the Foundational Economy can help focus on Place by
strengthening local communities. A more detailed briefing note on the Foundational Economy has also been
produced by the Intelligence Hub.