People in the UK are better off these days
The Legatum Institute recently announced that the UK has climbed three places in the global prosperity index and had one of the best business environments in the world.
The UK was named the fourth best nation for business environment – behind the US, New Zealand and Canada, and second best for natural environment – losing out to Slovenia.
The Institute said the UK’s rise to seventh was down to improvements when it came to social capital and the natural environment.
Other reports titled “We’re getting happier in boom-time Britain give more detail as levels of happiness hit a new high.
An average Briton gives a score of more than 7.5 out of ten, according to an assessment of wellbeing published yesterday by the Office for National Statistics (ONS).
It highlighted the lowest unemployment in nearly 40 years, rising wages, and confidence in the economy for a general rise in wellbeing.
Life satisfaction has also risen – to 7.69 and 7.88 – while anxiety has dropped below the three out of ten mark to 2.87.
The happiness measures have all risen since the summer of 2016, while anxiety levels have been falling since the autumn of 2016.
Its report said: “These positive changes across the UK may be influenced by the improvement of certain economic indicators such as the unemployment rate.
“Labour market figures covering the period April to June 2018 showed that the unemployment rate was at its lowest level since December 1974 to February 1975, at 4%.
“Also, average weekly earnings for employees in Great Britain increased by 2.7% compared with a year earlier.
Ipsos MORI research from May 2018 suggested that the British public are becoming more confident in the UK economy with the majority of the nation rating the economic situation as good.’
The ONS also said the number of households in which no one worked was down by 964,000 since 2010, and the number of children living in benefit-dependent workless homes fell by 637,000.