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Prof. Shackleton spots green shoots at BDCC Directors' Roundtable

Monday 22 June 2009

Len Shackleton

On June 18th, Professor Len Shackleton, Dean of the Business School at the University of East London (UEL), addressed a Directors’ Roundtable Breakfast meeting organised by the Barking and Dagenham Chamber of Commerce.

Professor Shackleton spoke to local business leaders about the prospects for economic recovery. He said: "The outlook for the UK is now considerably less gloomy than it appeared at the beginning of the year. The economy is faring less badly than expected, and better than some of our leading competitors including Germany, Italy and Japan. It appears that the measures taken by the government to support the financial sector and stabilise demand have been reasonably successful, and while jobs have gone, unemployment is way below the level in continental Europe.

While "green shoots" are appearing in many places and some commentators even believe that the recession may technically have ended, this doesn't mean everything is rosy. At best, it will take several years to make up the loss of output during the recession, and even longer for unemployment to start falling.

"Areas such as Barking and Dagenham may be particularly vulnerable in view of the concentration of manufacturing employment, and relatively low levels of qualifications, which make it difficult for people to find new jobs. On the other hand, the borough has a healthy tradition of small businesses and self-employment, and employment in transport and the public sector that have so far been less vulnerable to the downturn."

Professor Shackleton is a leading authority on labour economics and a frequent commentator on business matters in the national media.

Notes to Editors

The University of East London (UEL) is a global learning community with over 28,000 students from over 120 countries world-wide. Our vision is to achieve recognition, both nationally and internationally, as a successful and inclusive regional university proud of its diversity, committed to new modes of learning which focus on students and enhance their employability, and renowned for our contribution to social, cultural and economic development, especially through our research and scholarship. We have a strong track-record in widening participation and working with industry.

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