https://padlet.com/syannnnays/gg11n5n0ysk Syann, Dominick, Davin, Jun Rong, Brandon en-us 2018-05-15 01:52:35 UTC 2018-07-17 09:04:41 UTC hello@padlet.com davin1801 https://padlet.com/syannnnays/gg11n5n0ysk/wish/260685850 Economic Issue: Fall in GDP growth in the first quarter of 2018 larger than expected.
Economists predicted the GDP growth of the first quarter of 2018 to be 0.2% lower than the last quarter of 2017's GDP growth  of 0.4% but instead the GDP growth decreased by 0.6% to -0.2%. This could have been due to the 1.6% drop in construction output, which was partially caused due to the collapse of Carillion. Carillion was 1 of the UK's biggest construction companies, that used to employ 43,000 people globally and 20,000 in Britain. 

]]> 2018-05-15 01:55:31 UTC https://padlet.com/syannnnays/gg11n5n0ysk/wish/260685850 syannnnays https://padlet.com/syannnnays/gg11n5n0ysk/wish/260688677 Economic Issue: Inflation following the Brexit.
Inflation jumped in April 2017 due to the plunge in value of the pound following the Brexit vote.
At this point, real wages turned negative as it grew at a slower rate than inflation.
However, in February 2018, wage growth finally grew to 2.8 per cent, higher than the 2.7 per cent rate of consumer price inflation in that month.
This was a type of cost-push inflation which was a result of the 15% depreciation of the British pound following the Brexit.
Another cause was the 20% increase in oil prices in late 2016, which was a result of oil producing countries agreeing to curb production.
Overall, this caused the cost of living in Britain to increase, due to the increase in price of imports and other resources in Britain]]> 2018-05-15 02:04:14 UTC https://padlet.com/syannnnays/gg11n5n0ysk/wish/260688677 syannnnays https://padlet.com/syannnnays/gg11n5n0ysk/wish/260689493 Economic Issue: Unemployment in UK rises 
• The unemployment rate in UK rose at the fastest rate in five years
• In October to December 2017, the number of unemployed is standing at 1.47 million after increasing by 46,000
• A main factor in this issue is the increase in (cyclical) unemployment among young people under the age of 24. (Newly graduates are unable to find jobs as there are not enough jobs in UK)
• Fewer jobs are created, lesser people are employed, number of hours worked fall and productivity drops]]> 2018-05-15 02:09:01 UTC https://padlet.com/syannnnays/gg11n5n0ysk/wish/260689493