Max Mosley wrote for LBC about the UK’s latest employment statistics.
“The headline offers a rare sliver of good news. Unemployment, which has been growing faster than forecasters’ predictions, surprisingly fell a little to 4.9 per cent — a sign that workers entered this crisis in a stronger position than feared. But beneath that number, the picture is more troubling. Well before Trump’s first strikes on Iran, our labour market was already “cooling” – a word economists use to describe slower hiring, fewer job vacancies, lower worker turnover and lower wage growth. A cooling jobs market – especially ahead of an economic shock – is bad news for living standards.”