UK jobs markets suffers a fainting fit…will the patient get worse? |
Commuters and people travelling to and from Waterloo Railway Station, via the main entrance. (photo by Mike Kemp/In Pictures via Getty Images)
We now know that since the start of the year the number of payrolled employees in the UK has fallen by 80,000. Or perhaps it’s nearer 100,000. Or maybe only 50,000. The truth is we can’t be sure, given that the survey on which the ONS data is based is spectacularly unreliable. In fact, the UK’s labour market data is so ropey that one government economist complained they were “flying blind.” The Bank of England supplements official data with its own........