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The Fiction Of Rising Employment

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If my analysis is wrong, please put me right.

Public spending is rising by £20 billion a year. Assume that 5.882 million public servants got a 4% pay rise. This accounts for £7 billion which means that an extra £13 billion of new spending each year. If 70% of this money ends up as into salaries (public sector and government funded contracts), it is equivalent to 300,000 jobs (at £30K).

According to the Office of National Statistics, the Public sector employment rose by 62,000 and private sector employment rose by 115,000 last year. Meanwhile, 116,000 jobs in manufacturing dissapeared.

This gives a total of 293,000 jobs. It would appear that virtually all new jobs in the UK are being funded with public money. What a mess.

Edited by dog

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If my analysis is wrong, please put me right.

Public spending is rising by £20 billion a year. Assume that 5.882 million public servants got a 4% pay rise. This accounts for £7 billion which means that an extra £13 billion of new spending each year. If 70% of this money ends up as into salaries (public sector and government funded contracts), it is equivalent to 300,000 jobs (at £30K).

According to the Office of National Statistics, the Public sector employment rose by 62,000 and private sector employment rose by 115,000 last year. Meanwhile, 116,000 jobs in manufacturing dissapeared.

This gives a total of 293,000 jobs. It would appear that virtually all new jobs in the UK are being funded with public money. What a mess.

I think the suggestion is that there was a net gain of 115,000 in the private sector.

Also, the report offers some excellent news:

The total employment level increased 130,000 to a record high of 28.937 million,

Another HPC myth buried. It appears that all is well :)

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I think the suggestion is that there was a net gain of 115,000 in the private sector.

I don't think you understood my post. The point I was making is that virtually all of these 115,000 'private sector' jobs are being funded with tax payers money. The government are buying jobs (just as they did in the 70s).

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The point I was making is that virtually all of these 115,000 'private sector' jobs are being funded with tax payers money.

And don't forget the vast number funded by the housing bubble, who will be stuffed when it bursts...

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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