Economic Adviser – macroeconomic supply

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.  

HM Treasury is proud of a diverse and inclusive work environment, committed to fairness and the promotion of equality of opportunity for all. We know that having a range of experiences, ways of working and thinking makes us stronger and better at developing policy that reflects the needs of every community. We embrace different views and experiences and value the new perspective that people from a variety of circumstances bring to the work we do. We welcome applications from candidates who have not previously worked for the Civil Service, mid- and late-career changers with transferrable skills, people from all backgrounds and circumstances regardless of disability, gender, age ethnicity, LGBT+ identity and socio-economic status.  

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! 

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 economic and social research professions, including running centralised recruitment and the annual conferences.

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.

This role is an exciting opportunity to take on a high-profile management role in the Economics group! The Supply branch leads assessment of the supply-side of the economy, including regular analysis of recent trends, the outlook for the supply components, delivery of evidence and advice to inform policy development and the effect of longer-term structural change on the economy.

As an economic advisor in the Supply Branch, you would be expected to lead on HMT’s assessment of the supply outlook, working closely with the Office for Budget Responsibility (OBR), the Bank of England, and other external bodies. You would also lead on analytical projects on productivity and supply. The post holder will be responsible for planning and overseeing a programme of relevant analytical work, managing one direct report.

Key Accountabilities for this role include:

1. Lead and oversee the Group’s analysis of the supply-side of the economy, including regular assessments of supply developments – including analysis of recent trends in productivity, labour supply and spare capacity.
2. Lead within HMT an annual stocktake of the supply outlook, working closely with the Office for Budget Responsibility.
3. Undertake key analytical projects on productivity and supply – scoping these out, and managing and delivering their objectives, working collaboratively with colleagues in HMT and externally.
4. Lead on sectoral engagement on productivity and supply issues facing businesses and industries – to support our overall assessment of the opportunities and risks facing the supply-side of the economy.
5. Build and maintain positive relationships with other government departments, external forecasters, and wider external bodies, to build up our capabilities to assess the supply outlook. Oversee regular departmental productivity discussions, jointly with productivity policy team.
6. Manage and support the development of one range D (HEO).

Candidate Drop-In Session 
 
We 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 the recruitment process. If you would like to join us, then use the appropriate link below to join the call at the right time. 

17th October 2023 16:00 – 16:45 Click here to join the meeting

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 Frederick.mitchell@hmtreasury.gov.uk

We are looking for the below behaviours and technical skills, 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.  

1. Communicating and influencing: ability to build and manage collaborative relationships with peers and senior stakeholders to effectively communicate key messages, in order to deliver results. [Behaviour]
2. Developing self and others: focus on continuous learning and development for self, others, and the organisation as a whole. [Behaviour]
3. Working together: form effective partnerships and relationships with people both internally and externally, from a range of diverse backgrounds, sharing information, resources, and support. [Behaviour]
4. Technical skill: a strong background in economics and analysis with an ability to lead analytical work that is high quality, timely and influential, including informing policy development and communicating and explaining complex economic issues clearly to non-experts. [Technical skill]

The lead criteria is: 

Communicating and influencing: ability to build and manage collaborative relationships with peers and senior stakeholders to effectively communicate key messages, in order to deliver results.

If we receive large volumes of applications, we will conduct an initial sift on the lead criterion only.

Required Qualifications: 

Degree in economics or related field, or degree-level experience working in economic policy making (please set out what your experience is).

Candidate Guidance Support Session 
 
We will be running an overview of Success Profiles and the STAR approach; top tips for the application and interview process and an opportunity to ask general questions around our recruitment practices. If you would like to join us, then use the link below to join the call at the right time. 

Friday, October 13, 12:30 Click here to join the meeting

Thursday, October 19, 12:00 Click here to join the meeting

Monday, October 30, 17:00 Click here to join the meeting

We’ll assess you against these behaviours during the selection process:

• Communicating and Influencing
• Developing Self and Others
• Working Together
• Changing and Improving

We only ask for evidence of these behaviours on your application form:

• Communicating and Influencing
• Developing Self and Others
• Working Together

We’ll assess you against these technical skills during the selection process:

• Please note this does not need to be in the STAR format; we are keen to hear about your experiences and capabilities:

  A strong background in economics and analysis with an ability to lead analytical work that is high quality, timely and influential, in

• 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

• 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 (e.g. analysts, music society, sports and social club) and diversity (e.g. women in the Treasury, ethnic minority network, LGBT* network, faith and belief network).

Flexible working arrangements:   HM Treasury views flexible working as essential in enabling us to recruit and retain talented people, ensuring that they are able to 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; working from home, compressed hours and job sharing.

HM Treasury operates an office based working approach across all Treasury sites – Darlington, London, and Norwich, with the expectation of achieving 50% attendance in the office as a minimum requirement, along with the flexibility of 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.

Job contact :

• Name : frederick.mitchell@hmtreasury.gov.uk
• Email : frederick.mitchell@hmtreasury.gov.uk

Recruitment team

• Email : hrrecruitment@hmtreasury.gov.uk