Assistant Economist – Supply Economics
HM Treasury
Apply before 11:55 pm on Wednesday 19th February 2025
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About the job
Job summary
If you’re interested in making a difference to people’s lives, the Treasury can offer you an exciting opportunity to influence decision making that affects the whole of the UK. Working at the heart of government, we collaborate across government to promote responsible public spending and drive strong and sustainable economic growth.
Our work ranges from protecting customers through the regulation of the financial sector, helping to reduce carbon emissions and creating a greener economy, to promoting British trade around the world and supporting people across the country on jobs, growth and more.
We are part of the Darlington Economic Campus, a pioneering new cross-government hub which brings people together to play an active role in the most important issues of the day whilst working closer to the communities we serve. The campus provides the opportunity for people from all over the UK to help shape the future of the country, and our flexible working practices ensure you can collaborate effectively with our partners. It’s central government, made more accessible to you!
Job description
Economics Group
The Economics Group leads HM Treasury’s analysis of developments in the UK economy and advises ministers on the implications for the Government’s economic strategy. It provides expert economic analysis and advice for Ministers. The Group’s data hub is transforming how the Treasury uses data across its entire business. The Group collaborates with external experts on the UK economy, including the Bank of England, Office for Budget Responsibility and leading academics. Economics Group provides support for the UK Government’s economics and social research professions, including running centralised recruitment and the annual conferences.
About the Team
The Labour markets, Human Capital, Supply and Regions (LHSR) team is at the centre of the Treasury’s function as an economics Ministry, providing economic analysis, briefing and policy advice on key trends in the UK economy. We lead analysis of the latest developments in supply, labour markets, population, regions and human capital, and deliver high-quality analysis to inform policy advice. The team works flexibly across branches and priorities. We are a friendly, inclusive and supportive team, and work closely and collaboratively with colleagues across the department and across government.
About the Job
This role is an exciting opportunity to take on a high-profile role in the Economics group! The Supply branch plays a key role in the Government’s Growth Mission. It leads HM Treasury’s assessment of the supply-side of the economy. Our work includes analysis of trends in potential output, its drivers, as well as analysis to inform growth policy development.
As an economist in the Supply Branch, you will support the branch’s work on the supply outlook, working closely with the Office for Budget Responsibility (OBR), the Bank of England, and other external bodies. You will also lead projects on growth policy analysis: assessing the growth impacts of individual policies and the trade-offs between them. Your work will play a key role in developing the analysis underpinning the department’s work on the Growth Mission.
Core responsibilities:
- Delivering robust and timely analytical projects for ministers and senior officials on:
- the drivers of potential output, including trends in ONS data on employment, hours worked, productivity and sectoral and regional breakdowns, helping to form an assessment of the output gap;
- the growth impacts of different policies; and
- the trade-offs between different policies
- Effectively communicating complex analysis. You should be comfortable digesting large amounts of information, summarising key points, risks and uncertainties and then communicating the results to a wide audience either in writing or verbally.
- Building positive working relationships across HMT and external stakeholders (such as the Office for Budget Responsibility and other departments) to support the branch’s work monitoring the delivery of growth policies and evaluating their impacts, andwith the coordination of quarterly assessments of the supply-side of the economy.
- Independently develop and deliver analytical and research projects on growth-related topics that would benefit the branch, with the opportunity to work on projects in other areas of the team’s work, if desired. Previous experience of working in macroeconomics is not essential for this role, and you do not need to be an expert in the technical concepts mentioned in this ad. However, a strong willingness, ability and enthusiasm to learn is required! There will be opportunities to advance your knowledge of technical concepts and techniques within this role.
- Delivering at pace across the branch’s priorities. This role will involve working closely with both of the branches’ economic advisors (grade 7/range Es). A willingness to flexibly work across the branch’s exciting portfolio will therefore be vital.
- Contributing to the team’s inclusive and inquisitive culture; we value curiosity to learn about other areas of the branch’s work and the willingness to identify connections between subject areas. Within the team there may be an opportunity for both task and line management.
Candidate Drop-In Session – Microsoft Teams
The hiring manager will be running a candidate drop-in session for this role to give you greater insight about the role as well as the chance to learn more about HM Treasury and ask any questions you may have. If you would like to join us, then use the link below to join the call at the right time.
Teams meeting link - 3-4pm Wednesday 12th February
If you would like to speak to the hiring manager informally prior to the closing date for applications to find out more about the job, please contact William Glennerster (William.Glennerster@hmtreasury.gov.uk) and Katya Ring (Katya.Ring@hmtreasury.gov.uk)
Person specification
We are looking for the below skills and behaviours and we will ask you to demonstrate these in your application form. Please review the Candidate FAQ document that is attached to the advert for guidance on how to complete your application form.
In your written application, we will be assessing you on the following criteria:
- GES technical skill - Application of knowledge: Ability to synthesise evidence to deliver high quality economic analysis through application of economic theory and modelling techniques
- Working together: Ability to establish professional relationships and work collaboratively with a range of stakeholders
- Delivering at pace: Ability to deliver work at pace, while maintaining quality and dynamically reassessing priorities
- Making effective decisions: Ability to analyse and use a range of relevant, credible information from internal and external sources to support decisions
The lead criterion is: Technical skill
If we receive large volumes of applications, we will conduct an initial sift on the lead criterion only.
Required Qualifications:
At a minimum, a degree (either undergraduate or postgraduate) in economics.
Candidate Guidance Support Session – Microsoft Teams
We will be running an overview of Success Profiles and the STAR approach including top tips for the application and interview process and an opportunity to ask general questions around our recruitment practices. Please note that this session is not role specific, so we will be unable to answer specific questions about roles we are advertising. If you would like to join us, please use the link below to join the call at the right time.
Teams meeting link - 12:30 -1:15pm Thursday 13th February
Qualifications
Behaviours
We'll assess you against these behaviours during the selection process:
- Working Together
- Delivering at Pace
- Making Effective Decisions
- Communicating and Influencing
We only ask for evidence of these behaviours on your application form:
- Working Together
- Delivering at Pace
- Making Effective Decisions
Technical skills
We'll assess you against these technical skills during the selection process:
- GES technical skill - Application of knowledge: Ability to synthesise evidence to deliver high quality economic analysis through application of economic theory and modelling techniques
Benefits
- 25 days’ annual leave (rising to 30 after 5 years), plus 8 public holidays and the King's birthday (unless you have a legacy arrangement as an existing Civil Servant)
- Flexible working patterns (part-time, job-share, condensed hours)
- Generous parental and adoption leave package.
- A Civil Service Pension which provides an attractive pension, benefits for dependants and average employer contributions of 28%
- Onsite restaurant and coffee bar. The London office also offers a gym, showers and prayer room
- Access to a cycle-to-work salary sacrifice scheme, season ticket advances and payroll giving
- Access to a retail discounts and cashback site
- A Rental Deposit Advance Scheme to help meet the total costs of deposits for privately rented homes
- A range of active staff networks, based around interests and diversity
Flexible Working Arrangements
HM Treasury views flexible working as essential in enabling us to recruit and retain talented people, ensuring that they can enjoy a long-lasting career with us. All employees have the right to apply for flexible working and there are a range of options available including; part-time, compressed hours and job sharing. Additionally, we operate flexitime systems, allowing employees the flexibility to adjust their working patterns throughout the week which is subject to operational needs and line management approval.
At HM Treasury we have an incredibly broad remit; our work touches every citizen of the country. So, it’s important our employees come from the widest possible range of backgrounds, bringing us the widest possible range of perspectives and ways of thinking. We are committed to ensuring that all staff can realise their potential and achieve a healthy work-life balance.
HM Treasury operates an office based working approach across all Treasury sites - Darlington, London, and Norwich, and along with the rest of the Civil Service, has an expectation of a minimum of 60% attendance in the office, along with working remotely. This blended working approach allows you to work collaboratively, meet stakeholders face to face, support others and promotes a healthy work life balance (please be aware that this role can only be worked in the UK and not overseas). Some roles will not be suitable for Hybrid Working. Similarly, Hybrid Working will not suit everyone’s circumstances. Arrangements will be discussed and agreed with the successful candidate(s) and subject to regular review. All our offices have been recently modernised and designed to collaborate and connect with colleagues as well as desk and quiet space to allow a range of ways to work.
The office working expectation is linked to the location of the role. If you apply to a post in a single location, then you will not be able to meet this expectation at any of our other sites or move your role to another location.
Things you need to know
Selection process details
At interview stage, you will be assessed on the below criteria:
- Technical Skill
- Behaviours: Delivering at Pace, Making Effective Decisions, Working Together, Communicating and Influencing
Interview Task/Presentation
Prior to your interview, we will contact you about a task/presentation that the interview panel would like you to complete as part of the assessment. The exact details will be communicated to you nearer the time.
Recruitment Timeline
- Closing date: Wed 19th February
- Shortlisting: w/c Monday 24th February
- Interviews: w/c 3rd March and w/c 10th March
This timeline is indicative and may be subject to change. We will inform you if there is a substantial change to the recruitment timeline.
If your contact details change at any time during the selection process, please ensure you update your Civil Service Jobs Profile.
Please note that only applications submitted through Civil Service Jobs will be accepted.
Reserve Lists
You will be placed on a reserve list if your application is successful, but we cannot offer you a post immediately. Where more than one location has been advertised, candidates will be approached for roles in merit order according to the first preferred location stated on your application form.
Please note that a place on the reserve list does not guarantee an offer. We would still encourage you to apply for other HM Treasury opportunities that you are interested in. If you are offered a role in your first preferred location and you decline the offer or you are unable to take up the post within a reasonable timeframe, you will be removed from the reserve list, other than in exceptional circumstances.
Those on the reserve list may also be approached for similar roles at a lower grade. If you are offered a role at a lower grade and choose to decline, you can remain on the reserve list.
Eligibility Statement
A candidate is not eligible to apply for a role in the Civil Service if the application is made within a 5 year period following a dismissal for carrying out internal fraud against government. Checks will be performed as part of pre-employment checks in line with this. Please refer to the Candidate FAQ document attached to the advert for more information.
Everyone working with government assets must complete Baseline Personnel Security Standard (BPSS) checks. Additionally, individuals appointed to the Treasury group will be subject to National Security Vetting. The level of security vetting required for this role is Counter Terrorist Check (CTC)
To allow for meaningful checks to be carried out, applicants will need to have lived in the UK for at least 3 out of the past 5 years. In exceptional circumstances, for example if you have been working abroad on a government posting, a lack of residency would not be a bar to security clearance however the Department will need to consider eligibility on a case-by-case basis once the advert closing date has passed.
Please read the Vetting Charter for information on what to expect during the vetting process and what will be expected from you. Many areas of your life may be explored during your vetting journey, and it is important that every individual, regardless of their background and experiences, should feel comfortable going through this personal process, whilst having confidence that it is fair, proportionate, and inclusive.
These short videos address common concerns and preconceptions which applicants may have about national security vetting. If you have questions relating to security clearances, please contact HMTSecurityVetting@hmtreasury.gov.uk
Feedback will only be provided if you attend an interview or assessment.
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Working for the Civil Service
We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window).
Diversity and Inclusion
Apply and further information
Contact point for applicants
Job contact :
- Name : Will Glennerster
- Email : William.Glennerster@hmtreasury.gov.uk
Recruitment team
- Email : hrrecruitment@hmtreasury.gov.uk
Further information
