roaringmouse

This is quite a serious issue, with so many jobs being casual and/or "zero hours" basis. Underemployment, lack of job security, lack of income security are all concerning things that have increased over the last few years. Along with this, those who are getting an actual full-time wage find the actual value of their pay has decreased compared to cost of living increases.

Last year I was saying that on the good/bad news "spectrum" regarding the UK economy, it was somewhat on the bad side. I think it has since shifted to the centre (so neither over all good or bad) but it's quite delicate, so things could either sustainably get better over the next 18 months, or the economy falls back again. Which happens, we'll have to wait and see.

We're now about 6½ years on from the beginning of this global economic mess, and even when the UK gets on top of its budget there will be quite some time before it pays down its debt to a reasonable level.

chris955

More good news for the economy.
http://www.bbc.co.uk/news/business-26935155

http://www.bbc.co.uk/news/business-26950960

It's pretty hard to dent that things really are looking positive and the UK economy is well and truly moving in the right direction and moving faster than anyone expected

dunroving

The topic of this thread is a little like the "Is the UK really that bad?" thread (please do not resurrect it, anyone!)

Compared to most other G7 countries, the UK economy is doing well, and improving. I'd rather live in a country that is doing better than other countries.

But it still isn't doing great. In fact it's pretty weak, especially in terms of how it is (not) dealing with the continuing national deficit and growing national debt.

Come to that, the overall global debt situation is pretty scary. What was the name of that documentary about the growth in the US national debt? Definitely not a feel-good movie!!

roaringmouse

Exactly why I said that it is delicate.

I'd be careful about posting such things though, or you will be classed as a "doom and gloom merchant" by some.

roaringmouse

Oh, and thanks for the suggestion..

Bud the Wiser

Simples..........


http://www.telegraph.co.uk/finance/e...-year-low.html

Still.............

http://www.theguardian.com/business/...-david-cameron

and ..........

http://www.telegraph.co.uk/finance/n...in-the-UK.html

So anyone going to Uni and studying to be a barista and thinking they're doing a law degree or looking forward to the honorary title of Asda Associate should have no problem working for 30 years to gather together a house deposit.

OdysseusLite

I'm glad to hear you're doing okay. Out here things seem to be slowly recovering. The job numbers have to be taken with a pinch of something and wages are going nowhere. I'm working two jobs and making half what I used to with one, but I think that is unusual. I'm REALLY glad to hear that you are keeping Chris awake though. They get complacent over there in Utopia.

scot47

It is ok if you are an MP or a senior banker. Not so good for those on zero hours contracts at minimum wage.

chris955

Well duh

OdysseusLite

Of course, the fiat currency-based global finance system is a house of cards built on a rickety table perched on the nose of a drunken unicyclist who is weaving through a crowd of banana-eating litterbugs on the greasy deck of a small fishing boat adrift on the ocean in the eye of a hurricane while texting “So far, so good.” But that’s another story.

bigglesworth

You have me on one of my hobby horses there, Bud.

Supermarkets do not CREATE jobs, they replace them. The net effect on employment is, and not just in my opinion, negative. And I guess you could say the same of a coffee chain that says it is expanding at the expense of pubs.
Nevertheless, they may (debatably) represent a net gain for the consumer if
they increase choice and or reduce prices.

An interesting and rather self-contradictory column from Aldrick in the Times today.
http://www.thetimes.co.uk/tto/busine...cle4061628.ece

But it does explain the underlying strength in the economy. And also perhaps that the most effective role in that strength is played by IDS (with Osborne a close second). If that should be the case, there is an argument that the UK recovery may strengthen quite a bit more than we had imagined. Let's hope so.

dunroving

Interesting documentary on last week called "Don't take away my benefits" (or similar), about the new cap that IDS et al are placing on benefits, as well as requiring that people look for work.

I don't know the numbers but my guess is that part of the economic growth is due to reduced spending, rather than generating income - right?

One net effect is that some people are now unable to continue living in subsidized housing in London. The sense of entitlement is really quite annoying. People with huge families living in £500 p.w. houses refusing to move to another city where the housing is cheaper. It bugs me that people who work hard have to make choices about where they live and how many children they have but ... and I'm not even a DM reader!

bigglesworth

I cannot see how reduced spending could translate into increased economic growth. Unless you mean reduced government spending on benefits has increased government spending elsewhere.
I thi k what the article is saying is that reduced access to benefits has pushed many to find other ways to make ends meet. Not all of the work they have undertaken has been on the books however. Which explains the contradiction between the supposed increase in zero hours, with a simultaneous increase in GDP.

dunroving

I guess I was thinking in terms of reducing the deficit, rather than economic growth ...

bigglesworth

I thought that was what you meant. But did not like to presume.
It will be fascinating to see how this turns out. Might even make some people re-consider old prejudices and beliefs. Which ever way the answer eventually lies (and I know what my money is on).