Debates Forum

Debates Forum

  1. Standard memberwolfgang59
    Mr. Wolf
    at home
    Joined
    09 Jun '07
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    45641
    14 Aug '18 11:28
    Magie was right!
    She said she would get unemployment down.
    Now at its lowest level since 1975.
    https://www.bbc.com/news/business-45181079

    The figures also show a rise in productivity, but a
    slowdown in wage growth. I wonder who profits by that?

    And
    The CBI said the size of the UK workforce was shrinking at
    the same time as vacancies for skills and labour were growing.


    Damn! Looks like UK will need some immigrants .....................
  2. Joined
    20 Oct '16
    Moves
    8806
    14 Aug '18 13:58
    Originally posted by @wolfgang59
    Magie was right!
    She said she would get unemployment down.
    Now at its lowest level since 1975.
    https://www.bbc.com/news/business-45181079

    The figures also show a rise in productivity, but a
    slowdown in wage growth. I wonder who profits by that?

    And
    The CBI said the size of the UK workforce was shrinking at
    the same time as vacancies for ...[text shortened]... labour were growing.


    Damn! Looks like UK will need some immigrants .....................
    The economic theory says that there should be a strong correlation between wage growth and unemployment, which makes sense. If there are jobs with nobody to fill them, employers have to improve their wage offer to "fight" for workers. The UK has certainly tested the strength of this correlation, although the labour market has not been this tight for a long enough period of time to confirm whether it has had an effect on wages or not. Wages have shown some improvement this year at least.

    Productivity remains key to improving growth and living standards. Britain has had ghastly productivity growth since the crisis. I would say that this is because low interest rates keep "zombie firms" in business, lowering productivity. Higher inflation because of low interest rates (Mark Carney's August 2016 rate cut) exacerbated a squeeze on the British consumer last year that is now ended. The economy is not in crisis anymore and hasn't been for a number of years so why do we still have crisis-era interest rates? It makes no sense and I wish that the BoE would stop dithering with the rate rises already.
  3. Stargazing
    Joined
    16 Feb '08
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    88907
    14 Aug '18 14:45
    Originally posted by @wolfgang59
    Looks like UK will need some immigrants .....................
    And most sincerely very welcome they are too.

    Of course this is irrelevant to the issues of unrestricted migration and free movement.
  4. Standard memberwolfgang59
    Mr. Wolf
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    Joined
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    45641
    15 Aug '18 05:45
    Originally posted by @divegeester
    And most sincerely very welcome they are too.

    Of course this is irrelevant to the issues of unrestricted migration and free movement.
    And irrelevant to the price of bread.
    (Though I'm sure some astute statistician could show a correlation!)
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