Belfast Telegraph

Wellbeing study reveals 'human capital' drop

By Jamie Grierson

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.