The UK Future Jobs Fund: The Labour Party’s Adoption of the Job Guarantee
AbstractThis paper examines the development of employment policy in the United Kingdom. Past public-sector direct employment schemes, including those associated with the workfare model, had been discredited as ineffective across the OECD. In numerous countries, however, newer job creation schemes were implemented from the 1990s, aimed at addressing some of the shortcomings of earlier projects, and utilizing the growth of smaller community-based projects – the Intermediate Labour Markets, or ILMs. With the onset of the current economic downturn, and the substantial rise in cyclical unemployment, policy-makers more closely examined options for a demand-led strategy. Although ILMs had not been created with a view to forming part of a comprehensive job guarantee, the potential of these schemes to form part of a wider national strategy was clearly seen. In 2009 the government announced a job guarantee for young people, the Future Jobs Fund. This initiative was inspired at least in part by the work of Hyman Minsky. Although the Future Jobs Fund was scrapped in May 2010, it represents a bold step in active labour market policy. Subsequent analysis of the data related to the Future Jobs Fund indicate that it was a success, achieving its goals even under conservative assumptions.
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Bibliographic InfoPaper provided by Post Keynesian Economics Study Group (PKSG) in its series Working Papers with number PKWP1106.
Length: 45 pages
Date of creation: Sep 2013
Date of revision:
Job guarantee; full employment; unemployment; work; community;
Find related papers by JEL classification:
- E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
- I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
- J68 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Public Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-10-05 (All new papers)
- NEP-MAC-2013-10-05 (Macroeconomics)
- NEP-PPM-2013-10-05 (Project, Program & Portfolio Management)
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