UK Economy
The word 'economy' is defined as "the management of the concerns and resources of a community through production and distribution of wealth."
Source: Pocket Oxford Dictionary
'Management'
Is defined as the "working of, effectively controlling, bending to ones will, cajoling"
Source: Pocket Oxford Dictionary
"Concerns"
Is defined as the "relevant and important needs."
Source: Pocket Oxford Dictionary
"Resources"
Is defined as the "means of supplying solutions to needs."
Source: Pocket Oxford Dictionary
"Community"
is defined as the "Joint ownership or common position."
Source: Pocket Oxford Dictionary
"Production"
Is defined as the "Human activity to fulfil needs."
Source: Pocket Oxford Dictionary
"Distribution"
Is defined as the "Give out to each a share of"
Source: Pocket Oxford Dictionary
"Wealth"
Is defined as the "abundance or profusion of "
Source: Pocket Oxford Dictionary
Expanded Definition
The word 'economy' is expanded in definition as "the working of, effectively controlling, bending to ones will, cajoling of the means of supplying solutions to needs and important needs and means of supplying solutions to needs of a joint ownership or common position through human activity to fulfil needs and
give out to each a share of abundance or profusion of ."
Pre Covid 19 Pandemic Workforce of the UK
For December to February 2017 33,400,000 people were in the UK labour force.
Source: "UK labour market". ONS. 12 April 2017. Retrieved 12 April 2017.
Given the UK population in 2017 of 65,511,098 people.
(33,400,000 / 65,511,098)*100 = 50.98%
Source: Wikipedia.
Source: Google search
Source: UKometers
For September to November 2019 a record 32,900,000 people aged 16 years and over were in employment.
Source: ONS. Labour market overview, UK: 21st January 2020
Given a UK population as of 2019 - 2020 of 67,886,011.
Source: Population Estimates - local authority based by five year age band. NOMIS
Source: U.K. Population (2020) - Worldometer https://www.worldometers.info
The percentage of employed people was
(32,900,000 / 67,886,011)*100. = 48.46%
For January to March 2020 there were 33,140,000 people aged 16 years and over in employment.
Source: ONS Labour market overview, UK
Given a UK population as of 2019 - 2020 of 67,886,011.
Source: Population Estimates - local authority based by five year age band. NOMIS
Source: U.K. Population (2020) - Worldometer https://www.worldometers.info
The percentage of employed people was
(33,140,000 / 67,886,011)*100. = 48.46%
For April to June 2020 there were 32,920,000 people aged 16 years and over in employment.
Source: ONS Labour market overview, UK: 11 August 2020
Given a UK population as of 2019 - 2020 of 67,886,011.
Source: Population Estimates - local authority based by five year age band. NOMIS
Source: U.K. Population (2020) - Worldometer https://www.worldometers.info
The percentage of employed people was
(32,900,000 / 67,886,011)*100. = 48.81%
Prior to the pandemic the UK workforce varied to between 48% to 51% of the UK population.
Post Covid 19 Pandemic Workforce of the UK.
The UK Government; in order to reduce the spread of the Covid 19 virus; ordered only Critical Workers to remain in work. All other workers were instructed to self isolate at home.
Critical Worker Types.
Health and social care.
Education and childcare.
Key public services.
Local and national essential government.
Food and other necessary goods.
Public safety and national security.
Transport.
Utilities, communication and financial services.
The Number of Key Critical Workers.
The Institute for Fiscal Studies has estimated that from the labour force data of 2018 - 2019 22% of all working individuals were in the set of key workers.
This equated to 7,100,000 (7,238,000 from 2019 employment figures) adults across their UK. 26% of all women in the labour force were in these critical occupations. 18% of all men were in the labour force were
in these critical occupations. Italics added.
Source: Institute for Fiscal Studies. Key Workers Kery Facts and Questions.20/03/2020
"Approximately 7,500,000 people were temporarily away from paid work in June 2020, with over 3,000,000 of these being away for three months or more. Of those away for three months or more, at the end of June 2020 over three-quarters were earning half or more of their salary."
Source: ONS Labour market overview, UK: 11 August 2020
Conclusions
Economy is fundamentally the incentivising of a population by a hierarchy to fulfil needs to ensure survival.
Remove the action of work and the production ceases and the "economy" pattern fails.
This failure has been imposed on the UK economy deliberately by the UK Government to control the spread of the Covid 19 Coronavirus, only critical workers now work in the UK economy.
The pandemic has exposed the minimum number of employed people required to keep the UK economy active and ensure the continuance of the population.
Only 22% of the population is needed to be in work to keep a sufficient UK economy to sustain the UK population.
This is approximately half of the pre pandemic UK workforce.
A post Covid 19 UK must adapt to operating at this level.
The UK will have less transport, less travel, less tourism, less products, less manufacturing, less work, less taxation, less public services, less local authority services and less welfare.