The managed economy

The Second World War had profound effects on the regional and national economy. In the short run the urgent demands for materials solved the problems of unused capacity and high unemployment. On the eve of war over 178,000 of the insured workforce appeared to have little prospect of finding work. By mid-1941, fewer than 50,000 were on the unemployed register, and in July 1944 only 16,199 persons were recorded as out of work. This was just over 1 per cent of the insured labour force, and rates as full employment by virtually any standard.