Rishi Sunak’s ‘Summer Economic Update’ was judged well – and delivered well – but it remains to be seen whether all the headline-grabbing measures will live up to the hype. The blizzard of announcements, culminating in the gimmicky ‘Eat Out to Help Out’ scheme, left me at least wondering whether the Chancellor was trying a … Continue reading Chancellor gets it just about right
One of the biggest threats to the economic recovery is a second wave of job losses as the government’s job retention scheme (JRS) is wound down. The Resolution Foundation has some good analysis here. Nonetheless, the headline figure of 9.3 million for the number of jobs that have been supported by the JRS may overstate … Continue reading Are 9.3 million people really still on furlough?
The recovery in the UK economy is already taking shape nicely – and the shape looks increasingly like a ‘V’, where activity 'bounces back’ quickly and returns to more normal levels much sooner than most currently expect. Despite this, many commentators are still pessimistic and even eager to emphasise the downside risks. It is time … Continue reading ‘V’ for recovery!
he UK’s latest labour market data, released this morning, have predictably led to fresh calls for even more state intervention to ‘create’ jobs, or at least ‘protect’ them. But the most important thing the government can do now is to continue to lift the lockdown. Let’s deal briefly first with the headline unemployment rate, which … Continue reading UK unemployment – how bad will it get?