Data underlying comparisons of UK productivity against that of the remaining G7 countries.

An international comparison of productivity across the G7 nations, in terms of the level of and growth in GDP per hour and GDP per worker. Source agency: Office for National Statistics Designation: National Statistics Language: English Alternative title: ICP

The GDP per capita overall increased in all seven G7 countries since 2000 except *****. There, it fluctuated over the period, being only slightly higher in 2024 than in 2000. The ************* had the highest GDP per capita of the countries at over ****** dollars in terms of purchasing-power-parity (PPP). ******* had the second highest GDP per capita.

Labor unions, also known as trade unions, reached their peak in the advanced industrial countries of the G7 and Organization for Economic Cooperation & Development (OECD) in the late twentieth century; since the 1980s however, their memberships have declined drastically, in some countries by as much as 50 percent. The labor movement arose in the nineteenth century to represent workers' interests in collective bargaining and to protests against poor wages and work conditions. From their peak in the twentieth century, unions have declined to represent much smaller numbers of workers today, in many countries being active mainly among public sector workers, such as in the United States. The rise and fall of union power In their rise during the twentieth century, labor unions were tightly connected to political parties of social democratic or socialist bent, while also being connected with Christian democrats in some continental European countries. As these parties came to power in the post-WWII period, unions were institutionalized into a system of social partnership with employers and the government in many countries. This agreement minimized labor disputes, while focusing on increasing productivity, which led to a period of unprecedented economic growth. As this system ran up against intractable economic problems in the 1970s, however, parties came to power who pursued a 'neoliberal' agenda of liberalization of the labor market and the privatization of nationalized companies. Since the late 1970s, these policies have caused union membership to decline drastically, as unions could engage in the same level of collective bargaining in a more interconnected and globalized international economy.

The gross domestic product (GDP) of Russia reached nearly 2.2 trillion U.S. dollars in 2024, having increased from the previous year. In the period between 2025 and 2030, the country's economy was expected to continue growing. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Russian economy The Russian economy is primarily directed by both the private sector and the state. As a member of the BRIC, Russia is currently experiencing an accelerated growth within the economy with a chance of earning a place in the G7 economies. As of the 1990s, a large amount of the country’s industrial and agricultural sectors were privatized, however energy and military production remained with the state for the most part. Thus, the majority of Russian exports consisted of energy products as well as high-tech military equipment. The effects of the global financial crisis of 2008 took a similar toll on the Russian economy, however only had short-term effects. Russia recovered after two years and has since experienced exponential economic growth and productivity due to aggressive and prompt actions from the government, providing Russia with one of the most profitable economies in the world. Additionally, unemployment reached an all-decade low from the recent Russian economic boom, which furthermore implies that there is a slight growth in wages, however is also accompanied by a large worker shortage.

Since the oil price shock in 1974 unemployment increased significantly and also did not really decline in periods of economic upswings in Europe. This is especially the case for the countries of the European Union; therefore we face a special need for explanation. Looking at the member states on finds considerable differences. Since 1977 the unemployment rate within the EU is higher than the average unemployment rate of all OECD countries. The economic upswing in the second half of the 80s relaxed the labor market but nevertheless the unemployment rate remained on a high level. This study deals with the development of unemployment between 1974 and 1993 in four different G7 countries: Germany, France, Great Britain and Italy.

Besides the common trend of an increasing unemployment rate, there are significantly different developments within the four countries. The analysis is divided in two parts: the first part looks at the reasons for the increase in unemployment in the considered countries; the second part aims to explain the difference between the developments of unemployment during economic cycles in the different countries.

After the description of similarities and differences of labor markets in the four countries it follows a long term analysis based on annual data as well as a short and medium term analysis on quarterly data. This is due to the fact that short and medium term developments are mainly influenced by cyclical economic developments but long term developments are mainly influenced by other factors like demographical and structural changes. A concrete question within this framework is if an increase in production potential can contribute to a decrease in unemployment.

For the long term analysis among others the Hysteresis-hypothesis (Hysteresis = Greek: to remain; denotes the remaining effect; in this context: remaining of unemployment) used for the explanation of the persistence of a high unemployment rate.

According to this approach consisting unemployment is barely decreased after economic recovery despite full utilization of capacity. According to the Hysteresis-hypothesis there are two reasons for this. The first reason is that for long term unemployed the abilities to work and the qualification level decreased, their human capital is partly devalued. The second reason is that employees give up wage restraint, because they do not fear unemployment anymore and therefore enforce higher real wages. Besides economic recovery companies are not willing to hire long term unemployed with a lower expected productivity for the higher established tariff wages. In the context of the empirical investigation a multiple explanatory approach is chosen which takes supply side and demand side factors into consideration.

The short and medium term analysis refers to Okun´s law (=an increase in the unemployment rate is connected with a decrease of the GDP; if the unemployment rate stays unchanged, the GDP grows with 3% p.a.) and aims to analyze more detailed the reactions of unemployment to economic cycles. A geometrical lag-model is compared with a lag-model ager Almon. This should ensure a precise as possible analysis of the Okun´s relations and coefficients.

Register of tables in HISTAT:

A.: Unemployment in the European G7 countries B.: Analysis of unemployment in the Federal Republic of Germany C.: Basic numbers: International comparison

A.: Unemployment in the European G7 countries A.1. Determinates of unemployment in the EU, Germany (1974-1993) A.2. Determinates of unemployment in the EU, France (1974-1993) A.3. Determinates of unemployment in the EU, Great Britain (1974-1993) A.4. Determinates of unemployment in the EU, Italy (1974-1993)

B: Analysis of unemployment in the Federal Republic of Germany B.1. Growth of unemployment in the Federal Republic of Germany (1984-1991) B.2. Output and unemployment in the Federal Republic of Germany (1961-1990)

C: Basic numbers: International comparison C.1. Unemployment in EU countries, the USA, Japan and Switzerland (1960-1996) C.2. Gainful employments in EU countries, the USA, Japan and Switzerland (after inland and residency concept) (1960-1996) C.3. Employees in EU countries, the USA and Japan (1960-1996) C.4. Population in EU countries, the USA and Japan (1960-1996)

The Lock and Hinge Manufacturing industry is highly globalised, with several major global manufacturers operating or importing into the UK market. Before the COVID-19 outbreak in 2020-21, the industry benefitted from expanding residential and commercial construction markets. In particular, solid housebuilding activity, supported by the government's outlandish commitment to building 300,000 homes annually in the mid-2020s and high capital investment in commercial projects, fuelled revenue growth. Vehicle manufacturing was less lucrative over the same period. Over the five years through 2023-24, industry revenue is forecast to contract at a compound annual rate of 1.4% to £1 billion. Import penetration thanks to the cost advantages of manufacturing giants like China and Germany. Manufacturing revenue plummeted in 2020-21 thanks to volatile commodity prices, a weak construction sector and measly manufacturing output caused by the COVID-19 outbreak. During the year, supply chain disruption caused substantial trade flow volatility, slashing exports and imports. Nonetheless, a domestic and global economic recovery occurred in 2021-22 amid the successful and effective vaccine rollout. Manufacturing output returned to full capacity, and rising economic sentiment boosted sales across downstream buying industries like the construction sector. Over 2023-24, revenue growth is expected to decelerate to 0.4% amid a challenging economic environment. Lingering cost-push inflation is expected to keep operating costs high across the UK manufacturing sector, eroding profitability and output capacity. Investment in the residential and commercial construction industries will drive revenue prospects. The residential construction market will boom over the coming years as the government continues pursuing audacious housing targets to cater for the ever-growing UK population. Purchases from furnishings manufacturers, motor vehicles and other durable goods that require locks and hinges will also provide lucrative sales opportunities. Profitability will slowly recover but remain below historical levels thanks to weak UK manufacturing productivity relative to other G7 economies and China. Over the five years through 2028-29, the UK lock and hinge manufacturing industry's revenue is forecast to expand at a compound annual rate of 0.1%, reaching close to £1.1 billion.

Fasteners are essential components in many products and structures, and UK manufacturers typically target niche high-value segments, like the aerospace and automotive sectors. The domestic industry is small compared with the global market, and most UK companies are subsidiaries of foreign-owned global companies. A booming UK construction activity and resilient industrial production sector supported revenue growth and fastener sales. However, motor vehicle manufacturing contracted amid high uncertainty following the EU referendum. The weak pound has aided export growth, but intense import penetration from overseas manufacturers has intensified competition. Over the five years through 2023-24, industry revenue is expected to drop at a compound annual rate of 0.7% to £752.6 million. The economic downturn caused by the COVID-19 outbreak significantly reduced manufacturing revenue over 2020-21, exacerbated by disrupted supply chains, trade flow and weak investment. 2021-22 and 2022-23 saw a recovery in the UK construction and manufacturing sector, contributing to a 12.5% rebound in revenue. Over 2023-24, revenue is forecast to edge downwards by 0.3% as downstream markets face sky-high inflation and high-interest rates. Fierce import competition and supply chain bottlenecks have constrained profitability since the COVID-19 outbreak, preventing manufacturers from expanding output capacity. At 5.7%, the average industry operating margin remains below pre-pandemic levels over 2023-24. Over the five years through 2028-29, industry revenue is forecast to expand at a compound annual rate of 2.4% to reach £846.9 million. Domestic and foreign downstream market activity will drive revenue opportunities, particularly within the automotive and aerospace sectors. UK industrial production activity will improve as the UK slowly overcomes the slow puncture of Brexit on the economy and raises its productivity to the levels seen across the G7. A free trade deal between the UK and the EU will minimise the export disruption associated with Brexit. Assisted by government schemes, residential construction activity will continue expanding. However, the rising value of the pound could weigh on export prospects.