Wednesday, August 17, 2011
Coalition destroys 200,000 jobs
The increase in short-time and part-time working, means incomes and, therefore, spending is continuing to fall. Figures from the ONS show that nearly 200,000 full-time equivalent jobs have been lost over the past year, giving a lie to what Gideon Obsborne's quoted statement that "there is some good news, that employment, in other words people in work, that number is still going up. We are creating jobs in this economy as well as jobs being lost." And these workers are supposed to be saving up to buy a home, pay for a private pension and save for a rainy day, as well as cope with rampant inflation which is further destroying the value of the earnings.