Council Regulation (EC) No 2223/96Show full title

8.138. In particular, comparing (1) labour incomes of all employed persons as shown in the SAM, (2) a decomposition of these incomes into hours worked and average wage rates per hour and (3) the potential supply of labour by U.K.

Table 8.19 — Matrix presentation of the full sequence of accounts and balancing items for the total economy

Account			0.Goods and services	I.-IV. TOTAL ECONOMY												V. REST OF THE WORLD										Total
				I.Production	II.1.Primary distribution of income	II.2./3.Secondary (re)distribution of income (in kind)	II.4.Use of (adjusted) disposable income	III.1.1.Saving and capital transfers	III.1.2.Acquisition of non-financial assets	III.2.Financial	III.3.Other changes in assets	IV.1.Opening balance sheet	IV.2.Changes in balance sheet	IV.3.Closing balance sheet	Net worth	V.1.External goods and services	V.2.External primary incomes and current transfers	V.3.1.1.Saving and capital transfers	V.3.1.2.Acquisition of non-financial assets	V.3.2.Financial	V.3.3.Other changes in assets	V.4.1.Opening balance sheet	V.4.2.Changes in balance sheet	V.4.3.Closing balance sheet	Net worth
			1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23
0. Goods and services		1	Trade and transport margins	Intermediate consumption			Final consumption		Gross capital formation							Exports of goods and services
			0	1 904			1 371		414							536										4 225
TOTAL ECONOMY	I. Production	2	Output & Taxes less subsidies on products
			3 728																							3 728
	II.1. Primary distribution of income	3		Net domestic product	Property income												Primary income from the rest of the world
				1 602	341												72									2 015
	II.2./3. Secondary (re)distribution of income (in kind)	4			National income, net	Current transfers (1 315)											Current transfers from the rest of the world
					1 633	1 096											10									2 739
	II.4. Use of (adjusted) disposable income	5				(Adjusted) disposable income, net	Adjustment for the change in net equity of households on pension funds										Adjustment for the change in net equity of households on pension funds from the rest of the world
						1 604	11										0									1 615
	III.1.1. Saving and capital transfers	6					Saving, net	Capital transfers										Capital transfers from the rest of the world
							233	61										1								295
	III.1.2. Acquisition of non-financial assets	7		Consumption of fixed capital					Acquisitions less disposals of non-produced non-financial assets					Changes in assets due to saving and capital transfers					Acquisitions less disposals of non-produced non-financial assets
				222					0					833					0							1 055
	III.2. Financial	8							Net lending of the total economy	Net acquisitions of financial assets (= net incurrence of liabilities)										Net incurrence of external liabilities
									38	553										50						641
	III.3. Other changes in assets	9												Changes in assets due to other changes
														379												379
	IV.1. Opening balance sheet	10												Opening stock of assets
														16 714												16 714
	IV.2. Changes in balance sheet	11						Change in net worth due to saving and capital transfers			Change in net worth due to other changes
								230			305															535
	IV.3. Closing balance sheet	12							Changes in liabilities due to saving and capital transfers		Changes in liabilities due to other changes	Opening stock of liabilities			Closing net worth
									603		74	6 298			10 951											17 926
	Net worth	13										Opening net worth	Change in net worth, total
												10 416	535													10 951
REST OF THE WORLD	V.1. External goods and services	14	Imports of goods and services
			497																							497
	V.2. External primary incomes and current transfers	15			Primary income to the rest of the world	Current transfers to the rest of the world	Adjustment for the change in net equity of households on pension funds to the rest of the world									External balance of goods and services
					41	39	0									- 39										41
	V.3.1.1. Saving and capital transfers	16						Capital transfers to the rest of the world									Current external balance
								4									41									- 37
	V.3.1.2. Acquisition of non-financial assets	17																						Changes in external assets due to current external balance and capital transfers
																								50		50
	V.3.2. Financial	18								Net acquisition of external financial assets									Net lending of the rest of the world
										88									- 38							50
	V.3.3. Other changes in assets	19																						Changes in external assets due to other changes
																								7		7
	V.4.1. Opening balance sheet	20																						Opening stock of external assets
																								573		573
	V.4.2. Changes in balance sheet	21																Change in net external financial position due to current external balance and capital transfers			Change in net external financial position due to other changes
																		- 38			4					- 34
	V.4.3. Closing balance sheet	22																	Changes in external liabilities due to current external balance and capital transfers		Changes in external liabilities due to other changes	Opening stock of external liabilities			Closing net external financial position
																			88		3	297			242	630
	Net worth	23																				Opening net external financial position	Change in net external financial position, total
																						276	- 34			242
	Total		4 225	3 728	2 015	2 739	1 615	295	1 055	641	379	16 714	535	17 926	10 951	497	41	– 37	50	50	7	573	– 34	630	242

type of person and household group (expressed in ‘full-time’ equivalents) yields detailed information on the composition of unemployed and an aggregate indicator (‘full-time equivalent unemployment’) which is consistent, both conceptually and numerically, with the other macro-economic indicators; these can also be derived from the SAM framework. Moreover, juxtaposing the head-count of the employed persons (excluding foreigners) and the potential labour force in this data set reveals unemployment as conventionally defined.