Category: Labour markets

What to make of today’s UK jobs data

Tuesday’s official data on the state of the UK labour market have been interpreted in several conflicting ways, so here is an attempt to cut through the fog. I took two main points from the figures themselves. First, activity in the labour market continues to cool. I would not pay much attention to the headline … Continue reading What to make of today’s UK jobs data →

Can Rachel Reeves get growth back on track?

The Chancellor’s big growth speech on Wednesday morning was so widely trailed that it contained few surprises. But it was still the clearest and most coherent statement of her economic philosophy and plans, so far. Before diving into the detail, it is only fair to welcome the change of tone. It has been refreshing to … Continue reading Can Rachel Reeves get growth back on track? →

Is the UK sliding back into ‘recession’?

The answer to this question partly depends on your definition of ‘recession’, but I can think of at least three ways of approaching it. First, "two quarters of falling GDP"? Probably 'no', or at least not yet. Second, "two quarters of falling GDP per head"? Almost certainly 'yes'. Indeed, we already appear to be in … Continue reading Is the UK sliding back into ‘recession’? →