The United Kingdom of Great Britain

Resource Two: Labor

The United Kingdom has a population of about 61,113,205 according to the census taken in July of 2010. This is ranked 23rd in the world by the CIA of the United States. Of this 61.11 million people populating the country of the United Kingdom about 31.37 million are currently able to find work. This was the estimate from 2009 also found on the CIA world fact-book. The age break down of the citizens is categorized as follows:

      Aged 0-14:                                                      16.7%    (male: 5.23 million / female: 4.98 million)
      Aged 15-64:                                                    67.1%    (male: 20.7 million / female: 20.2 million)
      Aged 65 and Older                                       16.2%    (male: 4.29 million / female: 5.61 million)

This means that there is currently a rather large work force that is in work. One would have to assume most it not all of the 31.37 million in the labor force is made up of the 15-64 age group. Soon, when the economy of the world turns around or time works its magic many people will be retiring from this group all at once. This paired with the birth rate that almost matches the death rate shows that there will be the same amount of job openings in a stable economy in the United Kingdom. The birth rate of the United Kingdom is 10.65/1000 ranked 182nd in the world by the CIA. The death rate is approximately 10.12/1000 (ranked 63rd). Because these numbers are so close it suggests that there is almost perfect one for one replace-ability of the deceased in the United Kingdom. The population in this country (given these numbers stay the same) should stay almost a flat steady on a graph that would  measure population.

Finding work for an entrepreneur would be somewhat easy. given these statistics and the work would be good. The average amount of schooling someone in the United Kingdom gets is 16 years. The average for a man in the United States is 15 years and a woman is 16 years. This suggests that the quality of work is exactly the same if not better than what one would expect to find in the United States of America.

The graph below shows employment in the United Kingdom from 1997. The employment rate jumped very quickly. This shows that between 1997 and 2006 the United Kingdom was the place to be for anyone seeking work. The recession that swept the world then hit and growth went negative for two years. At the end of the graph the graph levels off with a slight slope up. This shows that the economy took its hit but has recovered to some extent. The labor force can grow back to what it was in 2006 because there has not been a large surge in death so there are still those 200,000 people who were working in 2006 looking for work. This shows that if an entrepreneur has a product that can work the United Kingdom as a youthful, skilled, intelligent, and ready to work labor force waiting.  The information provided suggests that in terms of labor the United Kingdom is getting better and has a good distance enough to inflate in order to get back to the 2006 numbers. Anyone looking to hire someone should look into starting their business here from a labor stand point.