Looking behind the employment figures
I have a post over at Left Foot Forward, looking at today’s employment statistics. The headlines are very good: why is that, when the economy is failing to grow? I argue that it is partly because manyof the new jobs that are being created are part-time, temporary or in self-employment and partly because wages are stagnating. Later this year, if current trends continue, growth in average earnings will come to a stop; this may be a price worth paying to avoid a huge increase in unemployment, but it’s no foundation for economic growth.