From the TUC

Geoff Tily's Articles

OBR projections confirm five years of the coalition leaves households poorer

18 Dec 2014, by in Economics

If the government are looking for reasons why the public are not sharing their enthusiasm for the condition of the economy (eg ‘Optimism about the economic recovery is in freefall’, from yesterday’s Evening Standard ), they need look little further than the Office for Budgetary Responsibility’s recent projections of real household disposable income per capita.…

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Misleading claims of 4% earnings growth

12 Dec 2014, by in Labour market

It is of limited relevance to the population as a whole that some people are lucky enough to be enjoying stable employment with rises in earnings of four per cent. The figure on earnings growth for employees in full-time work for over a year issued by the ONS with their recent ASHE (annual survey of…

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The OECD keep up the offensive against austerity

26 Nov 2014, by in Economics

With the publication yesterday of the November 2014 Economic Outlook, Catherine Mann,chief economist, kept up the OECD offensive against austerity in the euroarea. While political considerations plainly demand a gentle approach and mild policy recommendations, some telling and important theoretical / practical points were made which are worth recording (along with relevant slides). I confess I…

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GDP data indicate a return to the bad old days

26 Nov 2014, by in Economics

Strong headline GDP  figures are in contrast to expenditure detail that show key categories flagging. This goes beyond weaker business investment, which has been widely reported. The chart shows contributions to quarterly GDP growth by all of the main expenditure categories.    Contributions to GDP quarterly growth, percentage points In both the second and third…

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6 million Britons using credit to last until payday

07 Nov 2014, by in Economics

The other side of unemployment, underemployment, low pay and poverty is debt. Yesterday the debt charity StepChange hosted an event for individuals and organisations involved in dealing with the many consequences of this huge social (and economic) issue. The scale of the problem is increasingly recognised by the media and campaigners, but the facts are…

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