Comments: Poles apart - explaining Britain's job market conundrum

I think that you hugely underestimate the effect of the public sector spending splurge. For example, if you are in pharmaceutical sales (i.e. selling to the NHS) these are boom times. Public sector spending also finds its way into the rest of the economy through public sector wages - hence the retailing boom (which is where many of the new private sector jobs have been).

If you are in a business that has to compete internationally, the last few years have been very difficult (as the trade deficit illustrates).

Posted by HJHJ at August 9, 2006 10:47 PM
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