Unemployment in Scotland Drops

The economy of Scotland is closely linked with the rest of the United Kingdom and the wider European Economic Area. Scotland has the second largest GVA per capita of countries in the United Kingdom after England, though it is still lower than the average of the United Kingdom as a whole. As part of the UK Scotland is also facing a double dip recession and the start of 2012 has been extremely tough for Scottish business figures released last week show In Scotland, the economic gloom also deepened as a report revealed a record number of firms went bust from January to March. Figures showed 385 Scottish firms – nearly 30 a week – became insolvent or went into receivership in the first 13 weeks of 2012. The number is 37.5 per cent more than the previous quarter and 30.9 per cent more than the same period last year, according to official body Accountant in Bankruptcy. However despite this downturn unemployment in Scotland fell by 12,000 to 219,000 in the three months to February, according to new official figures. The Scottish government also have a economic recovery plan in place focusing on boosting capital investment, Improving access to finance and increasing private sector investment, enhancing economic confidence. Also a major programme of investment activity has been put in place. Some £35 billion will be invested over the next 10 years on projects such as the M74 extension, Glasgow’s Southern General Hospital and school estates across Scotland. The Scottish Government is also exploring opportunities to bring forward spend wherever possible, working with partners in local government, public bodies and the third sector. With these positive employment figures and investment plans it seems Scotland as a country are faring slightly better than the rest of the UK.

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One thought on “Unemployment in Scotland Drops

  1. From my point of view, Scotland recover from the economic crisis, the less damage with their private sector investment although The economy of Scotland is closely linked with the rest of the United Kingdom and the wider European Economic Area. The private sector investment which is encouraged by state, provides employment business and automatically leads to decrease the number of unemployment. if the government wants to get rid of the economic crisis, the government should help businessmen with financial assistance to encourage their investments.

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