puzzler…

Posted: August 20, 2012 in This is the Voice of Lefty Reason

Some strange and frankly baffling economic news in the last week as unemployment has supposedly fallen while we remain in the grip of recession and growth has slowed to a standstill.  The economy is actually shrinking according to some experts, so how come the numbers out of work are falling?  The Dismal Scientists cannot agree on this one.  Is the economy stronger than many think?  Are the unemployment figures accurate?  Is it regional growth based on the Olympics?  Is it the expansion of part time work and self employment?  About the only thing the experts agree on is that the picture is far from clear and that to explain this we must “let the data run”, expert-speak for “let’s wait and see what happens…”  If the data is correct we seem to be producing less stuff with more workers; the “Idle Jack” LibCons will be simply loving that as they berate British workers for laziness and low productivity.  Whatever the real reason behind the figures it is likely to keep the experts guessing as they attempt to explain why the British Labour Market stands strong in the face of gathering economic gloom and doom.

 

 

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