Tag: uk unemployment rate

Is Retirement a Thing of the Past?

Is Retirement a Thing of the Past?

Infographic Review

Infographic Design: A

Infographic Information: A

survey-compare-infographic
Researchers have highlighted new figures, recently compiled by Survey Compare, which suggest retirement as we know it could be a thing of the past for the current generation of working adults. When questioned, only twenty four percent of men and nineteen percent of women said they knew for certain that they were going to retire. As the government tries to tackle concerns over the cost of pensions by increasing the retirement age to reflect our longer lifespans, Survey Compare looked at what plans the general population are making for their retirement.
Why Won’t People Retire?
Retirement is fast taking up a significant proportion of people’s lives as improved healthcare means men and women now face fifteen to seventeen years of good health post retirement. This combined with the ever decreasing value of pensions means people are considering whether their finances will adequately provide for this period. In fact, forty two percent of respondents to the survey said that financial concerns were the biggest factor in their not taking retirement. However, fears over finance aren’t the only reason people are looking to postpone their retirement, with social issues, career progression and the chance to continuing using one’s skills also being cited.
Work Plans for Later Years
Whilst people are looking to defer their retirement, most don’t intend to carry on working in the same way as they do today. Indeed, only sixteen percent of men and eleven percent of women say they will continue work for the same employer. Most retirees believe they will either work part time, look for another employer or work for themselves. Also, with the UK unemployment rate, as recorded by Survey Compare, standing at twenty one percent, retirees are increasingly having to look at a number of different ways to gain that extra income they feel is necessary to see them through retirement. One noticeable statistic reveals that women’s retirement plans are markedly more uncertain than their male counterparts, with over forty percent being unsure of what they will do, compared to only twenty four percent of men.
How Will Retirement Change Over the Coming Decades?
For the over fifty fives, forty seven percent of people questioned did believe they would be able to retire, but for younger generations, this was considered more of a remote possibility. Within the 35-54 year old age group, the number of people who envisaged being able to retire plummeted by over fifty percent – and this percentage continued to fall with age. With fewer jobs for life and salaried pensions, and more portfolio careers offering less by way of future financial provision fast becoming the order of the day, the findings are a clear indication of the way in which working life has changed.
Who Will Be Retiring in the Future?
Retirement plans have some correlation between working income and education levels. Ironically, perhaps, the more money people earn, the less likely they are to retire, with the highest rate of retirement apparent in people who earn under £25,000 a year. Similarly, the higher a person’s academic achievement, the less likely they are to retire, with people who left school straight after obtaining their GCSEs being the most likely to retire completely.
Also, as people’s level of education and income increase, the more likely they are to profess an interest in working for themselves. This option is also most popular for those who already have two or more jobs, and who are more used to approaching the employment market in a more flexible manner. This research therefore goes some way towards showing that retirees are becoming increasingly flexible when it comes to their choice of employment, with popular options including working from home making crafts, carrying out market research or setting up businesses in their area of specialism.
Is Retirement Really a Thing of the Past?
Retirement is something that is evolving as our lifestyles change. Few people in their sixties see themselves as ready for the scrapheap, but they are often at a point in their lives where they want to change their relationship with work. Retirement is now seen as less of a stage in people’s lives when they stop working completely, but more of a time of transition, when they either cut back on their hours or try something entirely new.
This way of thinking, no matter how it’s come about (be it financial need or otherwise) will almost certainly prove advantageous. For it will allow our senior citizens the flexibility to enjoy their later years whilst benefiting from the additional income and social rewards which can ultimately be gained by working past retirement age in a way they enjoy.

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Recession Statistics for UK Families

Recession Statistics for UK Families

recession-affecting-uk-families-statistics

Families around the UK feel financially strained as unemployment and the rising costs of living continue to take a toll. According to the Office for National Statistics, the UK unemployment rate was 8.4% in the last quarter – the highest since 1995. Statistics show that young people are suffering the most, with more than one in five without job. This takes the unemployment rate between16-24 year-olds to 22.2%. Food prices i Britain are also rising at three time the rate of the world’s biggest seven economies. Figures from the OECD puts the food inflation rate at 6.3% compared to an average 2.% for the G7 group on nations – France, Germany, Italy, Japan, United States and Canada.

When the recession hit in 2008, it sent the nation spiraling into financial chaos.

With unemployment currently standing at 8.4% – the highest it’s been since 1995 – and inflation sky-rocketing everyday essentials, families are worried that the economy is driving them deeper into debt.

Prices at the pumps are at an all-time high and food inflation has risen to 6.3%. That’s three times the rate of the world’s seven biggest economies, bringing the average weekly household expenditure to £473.60.

As salaries stay the same and families work hard to meet everyday living costs, disposable incomes have dipped for the fifth year running. As a result, many people have sought help through Debt Management Plans, IVAs and Debt Relief Orders so that they can manage their debts more effectively and stay in control of their finances.

Scorecard

Design: B+

Fun graphs, lots of fun drawings and a fun layout. So this was fun infographic with an interesting visual design.

Information: B+

No lack of information here. Just depressing, for the young people in Britain.

via: Baines & Ernst

UK Business Infographic

UK Business Infographic

perecent job

This infographic looks at UK business.  The design is understated, and the information communicated is simple, if you can wrap your head around it.

The heading says “If 27% of small UK businesses created just 1 job” but then jump to a section where they give us a little bit of data before  they finish that sentence.

A sample of small UK businesses was asked if they planned to hire anybody in the next year, and 73% of them said no.  That leaves us with the 27% from the header, so we know where that bit of data came from.

Apparently, there are 1,178,745 small businesses in the UK, so if 27% of those small businesses hired just one person, that would result in the creation of 318,261 new jobs.

The UK is at a 17 year high of 2.62 million people.  If those 318,261 jobs were created, it would reduce the UK unemployment rate to 2.3 million.

A graph shows you the unemployment trend from 2000 to 2011, with a projection into 2012, based on the information that 27% of small business plan to hire at least one person in the next year.

If all this comes to pass, 198,139 fewer people would claim a weekly Jobseeker’s Allowance, which would result in a £10.5 million savings for the UK government.

Scorecard

Design:  B-

I like the minimalist design, but believe the lettering could be larger without losing the impact of the data.  I also disagree with the color choices.

Information:  A-

The information is presented in an interesting way, and it is good information to know.

Source:  Simply Business