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WTF?

UK jobs and wage inflation soars

UK wage inflation jumped to a 15-month high in July as jobs growth rose at its highest rate in over two years, a survey has found.

What the hell is going on here - is there some regional trend - are people finally crumbling under debt pressures and being forced to all round-robin and shift jobs to improve the situation, is there some corner of the jobs market where a fountain of profits are leading to employers needing large numbers of extra staff? Regionality again - is there a mass shift of skilled personal from one area to another that is create employment holes in high cost areas becuase nobody can move from a cheap area to fill?. Is there even stronger emmigration of skilled/permanent grade staff? Are a rump of skilled people retiring/throwing in the towel?

....

This did nothing to stem the strong demand for staff, however, with the continuing skills shortages meaning that employers are offering higher salaries in order to attract the right staff.

The rate of inflation of permanent staff salaries jumped to a 19-month high as a result, while temporary pay also rose "robustly" from the previous month, the survey said

Temporary up as well, same questions as above. What skills shortages? There were supposedly skills shortages in teh NHS now only 1 in 10 physiotherapist trainees are supposedly going to find a job, the medical bodies are getting changes to rules to put a stop on foreign labour flooding the market. Just what is going on? Where are the skills shortages?

.....

News of rising pay inflation is likely to concern rate-setters at the Bank of England and give further support to the Monetary Policy Committee's surprise decision last week to raise interest rates by a quarter point.

Some have suspected all along that the BOE have been targeting wage inflation all the time - whilst totally ignoring all the other inflation indicators, land, taxes, etc, etc,

Edited by OnlyMe

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A simple calculation shows that the rising number of jobs (both public and private sector) are being bankrolled by higher taxes and rising government debt. Higher taxes however are harming the private sector. In his heart, Gordon Brown must be thinking 'Apres moi le deluge'.

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A simple calculation shows that the rising number of jobs (both public and private sector) are being bankrolled by higher taxes and rising government debt. Higher taxes however are harming the private sector. In his heart, Gordon Brown must be thinking 'Apres moi le deluge'.

But he is Scottish so surely it's more like:

"Hoots mon, wheres ma heed"?

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WTF?

UK jobs and wage inflation soars

UK wage inflation jumped to a 15-month high in July as jobs growth rose at its highest rate in over two years, a survey has found.

What the hell is going on here - is there some regional trend - are people finally crumbling under debt pressures and being forced to all round-robin and shift jobs to improve the situation, is there some corner of the jobs market where a fountain of profits are leading to employers needing large numbers of extra staff? Regionality again - is there a mass shift of skilled personal from one area to another that is create employment holes in high cost areas becuase nobody can move from a cheap area to fill?. Is there even stronger emmigration of skilled/permanent grade staff? Are a rump of skilled people retiring/throwing in the towel?

....

This did nothing to stem the strong demand for staff, however, with the continuing skills shortages meaning that employers are offering higher salaries in order to attract the right staff.

The rate of inflation of permanent staff salaries jumped to a 19-month high as a result, while temporary pay also rose "robustly" from the previous month, the survey said

Temporary up as well, same questions as above. What skills shortages? There were supposedly skills shortages in teh NHS now only 1 in 10 physiotherapist trainees are supposedly going to find a job, the medical bodies are getting changes to rules to put a stop on foreign labour flooding the market. Just what is going on? Where are the skills shortages?

.....

News of rising pay inflation is likely to concern rate-setters at the Bank of England and give further support to the Monetary Policy Committee's surprise decision last week to raise interest rates by a quarter point.

Some have suspected all along that the BOE have been targeting wage inflation all the time - whilst totally ignoring all the other inflation indicators, land, taxes, etc, etc,

Hi OnlyMe,

Can you post the full artical and source.... Looks very interesting, because if wage inflation is starting to rise then IR's are definately only going one way.

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  • 337 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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