Unemployment is down…but Stephanie Flanders is on the case…..she says it should be good news……but to her mind it is a sign of a sickness at the heart of the British economy…and it’s probably all George Osborne’s fault.
‘To get rid of that longer term mystery, the ONS would have to decide that everything it had said about GDP in the past two years was wildly wrong…..implausible, even to those – like the Bank of England – who believe the ONS does tend to understate growth.
Of course, there is the other possible explanation, that the jobs figures are actually worse than they look.’
Unemployment going down plays against Balls’ assertion that the government is borrowing because unemployment is pushing up welfare costs….that can’t be if unemployment is going down…funny Flanders not raise that little issue.
If only we had a Plan B.
It’s been a recurring theme all day on the BBC (and over recent months)….questioning the validity of the unemployment figures…when they’re going in a downward direction that is.
Either they are wrong or the jobs are the wrong sort of job…apparently. I don’t remember any such qualms about employment figures under Labour…or crime figures…if Labour said crime was going down Mark Easton would be on the case defending the validity of those figures everytime a Tory minister suggested that they may be wrong.
Flanders admits in the end that she can find no real answer (er…perhaps jobs are being created to do work that is being created?…simple)……but she isn’t going to let you carry on thinking that there is any good news to be had under a Tory Chancellor.
Keep sowing those seeds of doubt and perhaps Ed and Ed will get elected…and she can get some great scoops with her close personal contacts.
Surely any half awake, half decent journalist would go to a company that is employing more workers and just ask them ‘Why are you employing more people?’
Is it really a mystery worthy of Sherlock Holmes? Shame we have Clouseau on the case.