1980′s - Not all good!
Although the 80′s bought wealth the decade also came with high unemployment rates. In the 70′s money was spent on items with rising prices that the government couldn’t afford, these include oil prices rising and the living wage being used to a higher amount. To tackle the money troubles in the UK the government increased interest rates, reduced spending and made major cutbacks. These changes caused many people unable to get job as companies couldn’t afford to employ them due to this recession and wages being increased. Main sectors that suffered from unemployment include miners and transport workers, others took hits but not as bad these two sectors.
Other cases of unemployment include the closing down of businesses, jobs becoming more modern meaning people weren’t up to date thus not having the correct skills for a certain job, geographical unemployment; different parts of the UK had more jobs to offer however house prices were high in the 80′s so people might not have been able to afford a new house.
By the 1990′s house prices dropped to an all time low within the first few years to then jump back up again in the recession within the 90′s. Unemployment levels were still high in the 90′s but lowered slightly.
1980s history
1980s
miner
transportation
uk
money
unemployment