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Willy Weasel

Unemployment Falls - Wage Growth Muted

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http://news.bbc.co.uk/1/hi/business/6947423.stm

Good news on the face of it. This quote from the article probably shows how this affects the average family though:

"Wage inflation is just not adding to medium-term inflation risks at present. In fact, we wonder if there's a potential problem of soft wage growth undermining household spending."

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But the figures were marred by an increase in the numbers classed as economically inactive, including those looking after a relative, taking early retirement or people who have given up looking for a job.
The figure rose by 7,000 to reach 7.95 million, over
20 per cent of the working population
, the second highest figure on record.
The number of
manufacturing jobs also continued to fall
, down by 46,000 in the latest quarter compared with a year ago, to 2.96 million, the lowest figure since comparable records began almost 30 years ago.

In a miracle economy the reality is often darker than what at first appears. Smoke and mirrors.

Edited by Realistbear

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The BOE will stamp on wage growth but not give two shits about real inflation.

The gap can be filled with debt, £800Bn of it since they became "independant".

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The BOE will stamp on wage growth but not give two shits about real inflation.

The gap can be filled with debt, £800Bn of it since they became "independant".

An increase of 160%!!!

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