Jim Armitage: We're feeling better but let's hope the recovery continues
Outlook It would be churlish not to cheer the economic good news that has emerged this week. The unemployment picture is particularly heartwarming, given that each number off the dole list is a household with more wealth, self-respect and happiness.
We should not even be overly concerned about speculation that interest rates will rise any time soon. The Bank of England Governor, Mark Carney, has only said unemployment falling below 7 per cent will signal the start of a review on interest rates, not be the trigger for an instant rise. Inflation at 2.2 per cent strengthens the argument of the cost of borrowing doves, and the Bank's inflation report yesterday lowered long-term inflation forecasts. Mr Carney and Co will not be putting up rates until the broad economic recovery is certain.
We should now be concerned more about how sustainable the bounceback in economic markers such as employment is. Few company bosses talk of the kind of dramatic improvements the Government statisticians are coming up with. The Chartered Institute of Personnel and Development, the association for the human resources trade, yesterday predicted a cooling of the jobs market in the coming months.
It said employers want to focus on getting more work out of existing staff, rather than keep hiring new ones. As for pay rises, forget it, the CIPD added. Most organisations are keeping those on hold until the second half of next year "at the very least". By the time of the next election, a 'feel-better' factor may be in play, but Dr Feelgood will not be calling until long after the next Parliament.
- 1 Scottish independence: Ireland since 1919 is a lesson for Scotland in what a Yes vote means
- 2 Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
- 3 Lego breaks out of the toy box and heads for the gallery
- 4 Julian Assange and Edward Snowden join piracy mogul Kim Dotcom’s political campaign in New Zealand
- 5 Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
Jihadi John': MI5 may have identified Isis militant who killed David Haines but options limited
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: Police will be on high alert on Friday whatever the result
David Haines beheading: David Cameron says Britain will hunt down Isis 'monsters' shown in video murdering aid worker
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Scottish independence: Yes campaign feels the heat as Alex Salmond's NHS claims come under furious attack
£23m Birmingham cycle scheme is attacked by Tory councillor for not catering to the elderly
Salmond accused of laughing off national debt with ‘what are they going to do: invade?’ joke
iJobs Money & Business
£280 - £320 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
£35000 - £38000 per annum + Benefits: Ashdown Group: Training Coordinator / Pl...
Data Governance Manager (Solvency II) – Contract – Up to £450 daily rate, 6 month (may go Permanent)
£400 - £450 Per Day: Clearwater People Solutions Ltd: We are currently looking...