FTSE 100
Dow Jones

Wednesday, 15 July 2015

Glass one sixteenth empty

The BBC shows its usual political bias by telling us that unemployment is up by 15,000, but curiously has no explanation for why salaries should be rising at a fast rate.

In fact it is obvious when you look at the figures a little more deeply than the BBC could be bothered to do. For indeed the number of people in work has actually increased by 265,000, with unemployment outside London actually falling and the numbers in part-time employment falling, switching to full-time.

Unemployment increased in London, but that is where most immigrants choose to settle on arrival in this country, and with an incremental workforce of 280,000 of whom only 5% are unemployed, that sounds like a very strong economy. 5% unemployment is lower than the unemployment rate of Oxford arts graduates.

No comments: