The horror! Yesterday we discovered that UK economic output — as measured by GDP — fell by 1.6 per cent in the first quarter of the year, 0.1 per cent worse than the 1.5 per cent originally reported. This is practically a rounding error. To put it in context, as recently as March the Office for Budget Responsibility, … Continue reading Ignore the gloomsters, the economy is roaring back
Tag: jobs
Why it’s right to wind down furlough
The Treasury will start to wind down the furlough scheme this week – and not a moment too soon. To begin with, the support is relatively generous – and costly – and still due to last another three months. Under the Coronavirus Job Retention Scheme (CJRS), employees on furlough receive 80% of their normal wages … Continue reading Why it’s right to wind down furlough
Brexit: the good, the bad, and the little bit ugly
How time doesn’t always fly. It is a long five years since the UK voted to leave the EU in the 2016 referendum and the country still seems as divided about the impacts as ever. But as a Leave voter and Brexit optimist, I’m feeling increasingly positive. Let’s start with three things that have gone … Continue reading Brexit: the good, the bad, and the little bit ugly
The good news on unemployment
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
Plain-speaking Economics 