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The reliability of labour market statistics is under pressure.Since late 2021, the number of completed interviews in the UK’s Labour Force Survey has dropped sharply, reducing the accuracy of unemployment measures. This is not unique to the UK: in the United States, response rates for the main labour market survey have fallen from over 90% in 2010 to below 70% today — highlighting a global challenge in data collection.Click on the chart to read Stuart McIntyre on what’s been going wrong with labour market statistics – and what’s at stake.
🍷The economics of wine is on the agenda at the EEA2025 Bordeaux conference.France leads the world in wine exports – over 32.5% of the total in 2024 – with a trade surplus of $11.7 billion.Visit our Data Hub to explore and create your own charts.
Gold has climbed to an all‑time high today, rising past $ 3,500 per ounce amid growing expectations of a U.S. Federal Reserve rate cut and a softer U.S. dollar. Click on the chart to read Philip Fliers on why gold is seen as a safe haven asset.
This chart shows an example of reductions in the costs of new technologies over time, highlighting the dramatic fall in the real cost of computer memory and storage over time. In the space of just a few decades, the cost of computer (random access) memory dropped exponentially, from hundreds of trillions of dollars per terabyte in the 1950s to around a thousand dollars per terabyte today.
How do you spend your time in a typical day?Today’s #ChartOfTheDay breaks down average daily time use across OECD countries.Japan leads in time spent on paid work or study — averaging 6.1 hours/day. Mexico tops the list for unpaid work (like domestic chores and childcare), with 4.4 hours/day.When it comes to personal care — sleeping, eating, hygiene — France stands out. With 12.5 hours/day, it’s the only country in the dataset where people spend over half the day on wellbeing. Italy follows with 11.8 hours.
UK industry faces historic electricity costs.Prices have doubled since 2020 and remain high at 25p per kilowatt-hour.Click on the chart to read Huw Dixon on how rising energy prices affect the UK economy.
Global cocoa prices are up almost 18% on last year, following dry weather across West Africa and the spread of a disease affecting cacao trees.Click on the chart to read more about food inflation from Finn McEvoy.
On Monday, April 28, 2025, Canadians will vote in a federal general election to elect members of the House of Commons to the 45th Canadian Parliament. ?Over the past five months, polls have shown a sharp reversal in fortunes. Once trailing significantly, the Liberal Party, led by Mark Carney, now maintains a narrow lead.
Britain currently has £3 trillion of debt – or 104% of GDP.Compared to the world’s top 21 countries by population, this puts us 3rd on the list behind the US and Japan. Within the G20 group, the UK sits 6th.Click on the chart to read 'The debt mountain: the G7’s big problem'.
Who supplies the world’s weapons? The global arms trade is heavily concentrated. Over 43% of global arms exports originate from the United States – more than the combined total of the next nine countries.Saudi Arabia is its biggest customer, receiving 12% of all US arms exports.
In 1971, the UK’s female employment rate lagged men’s by nearly 40 percentage points. Today, that gap stands at just 6.4%. Interestingly, major economic shocks often spurred this convergence, as recessions hit male-dominated industries hardest. Economists refer to this as a “man-cession” effect, though it also reflects longer-term sectoral shifts that favour service and knowledge-based work. Other factors include the “added worker” effect—where some women join the labour force when male earnings drop—and the possibility of “forced renewal,” where post-layoff hiring opens doors for more women. So, do recessions boost gender equality—or simply speed up changes already in motion?Saturday 8th March
Donald Trump has won the U.S. presidential election resoundingly, carrying five swing states, with additional gains in Nevada and Arizona unconfirmed but likely. Trump also became the first Republican nominee to win the popular vote since George W. Bush in 2004.In the coming weeks, the Economics Observatory team will provide analysis on the election results and their implications for the U.S. and world economy.For insights into how Trump’s election may influence the stock market, read Clive Walker’s analysis from earlier this year
