What’s happening in the labour market is arguably the most important economic news every month. Despite that, the quality of the commentary is often poor, with many sources apparently too keen to focus on the negatives. The reactions to the latest release from the ONS provide more examples. The early headlines were dominated by the … Continue reading The good news on unemployment
Tag: furlough
More state intervention is not the answer to reviving our economy
Many people argue that the Covid crisis has demonstrated the need for government to take a bigger role in the economy, in good times as well as bad. When asked to suggest five policies to help the recovery their ‘wish lists’ are therefore full of ways in which the state could do even more. In … Continue reading More state intervention is not the answer to reviving our economy
‘Lockdown 3’ won’t be anywhere near as bad as the original
New year, new lockdown. I’m instinctively sceptical that such severe restrictions on our lives can ever be justified, but two factors have surely tipped the balance in their favour. The first, of course, is the far more rapid transmission of the new Covid variant. This has increased the benefits of locking down, as the risk … Continue reading ‘Lockdown 3’ won’t be anywhere near as bad as the original
How far will UK unemployment rise?
The planned closure of the original job retention scheme (CJRS) at the end of October has focused attention again on the prospects for unemployment. A ‘top down’ approach (based on GDP) suggests that UK unemployment could rise to more than 3 million, or 10% of the workforce. But a less pessimistic ‘bottom up’ approach suggests … Continue reading How far will UK unemployment rise?
Plain-speaking Economics 