Tuesday, February 27, 2007
Winds of change
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

David Blanchflower, the monetary policy committee's resident dove, has given a detailed speech on Britain's labour market. He thinks there is plenty of spare capacity in the economy and that inflation will be back to target in the spring or early summer. Immigration, he believes, has been the key factor in giving the UK additional labour market capacity. Meanwhile, a harsher wind has been blowing from overseas to affect London and the other European stock exchanges. A plunge in Chinese share prices, the result of action by the authorities to curb speculators, has hit other markets.

Comments

Well he would say that being an ultra ubber-dove!
I'd like to know what's happening with all the money thats been printed, where all the price rises are going, and what is causing the fraudulant CPI figures to be so low.

Posted by: Kev M at February 27, 2007 05:00 PM

I think we all know that there is huge spare capacity in the economy. I know plenty of extremely well qualified, able and experienced people looking for work. Some have made 50 or more applications and not received a single interview. Most applications don't even elicit a reply. I have a friend who runs a recruitment agency in the technology sector. She says the last five years have been a nightmare.

I had a similar experience a couple of years back. Eventually, I decided to be self employed rather than waste my time on endless fruitless job applications. I make less money than I did, but it's better than the frustration of trying to find a job. My qualifications and experience are in areas where there is supposedly a shortage (i.e. technology/engineering/business).

There are plenty of jobs in pharmaceutical and mortgage sales and accountancy!

Posted by: HJHJ at February 28, 2007 12:34 PM