Economy

People matter: improving our estimates of human capital

Alongside the traditional measures of prosperity like GDP, the ONS is at the forefront of an international movement that’s developing new and alternative economic indicators that go beyond simple financial value. Central to this work are the plans to develop new ways of measuring ‘human capital’ that have been unveiled today. Here John Marais makes the case for measuring human capital better.

Read more

Hiding in plain sight? Why economically inactive people aren’t in ‘hidden unemployment’

You’re either classed as employed or unemployed, right? Well, wrong, actually – there are three different possible ways people can be classified in the labour market. Here David Freeman looks at the third status, called ‘economic inactivity’ and explains how ONS statistics fully capture people’s involvement, or lack of it, with the world of work and why economically inactive people aren’t just in ‘hidden unemployment’.

Read more