Wellbeing study reveals 'human capital' drop
The economic value of the knowledge and skills of the UK workforce has fallen for the first time in nine years, a Government-appointed study has revealed, after earnings growth slowed and unemployment increased.
The UK's human capital - measured by assessing educational achievement, income growth and investment in education and training - dropped by £130bn to £17.12tn in 2010, after steadily growing since 2001, the Office for National Statistics (ONS) said.
Elsewhere, the ONS study revealed women's human capital at £6.64tn was around 63% of men at £10.48tn, as women spent less time in paid work and on average earned less.
The ONS published the estimates as part of a programme to measure national wellbeing, which was set up by David Cameron after he decided the Government had to separate indicators of economic progress from those assessing quality of life.