Green Politics
Hopeful signs in the labour market, but things remain a long way from normal
Today’s labour market statistics were broadly positive but there are causes for concern beneath the headlines.
Duncan Weldon
Duncan writes on the economy and economic policy. He is an econmist and has worked at the Bank of England, as a Partner in a fund management firm and for the Labour Party; Duncan currently works for an international trade union.
The weakness of the wider economy is catching up with the labour market
Whilst important not to read too much into one set of figures, it may now be the case that the weakness of the wider economy is catching up with the labour market.
There is no disguising the fact: these are disastrous figures for the chancellor
Today’s figures from the ONS confirm that GDP fell by 0.3% in the fourth quarter of 2012. Whilst the upward revision is obviously good news, there is no disguising the fact that these are disastrous figures.
Wages and productivity falling despite positive unemployment figures
While the latest drop in the unemployment figures should be welcomed, real wages have now been falling in every month for the past three years.
Bank of England throws in the towel on growth – where does this leave Osborne?
The Bank of England appears to have thrown in the towel on growth with the publication of the latest Inflation Report, but where does this leave the chancellor?
Jobs stats no cause for celebration – things could, and should, be an awful lot better
Today's labour market stats are no cause for celebration - things could be, and should be, an awful lot better.