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Labour Market Rebound Continues

including Budgets
dealtn
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Labour Market Rebound Continues

#435281

Postby dealtn » August 17th, 2021, 8:53 am

Surge in vacancies and above inflation pay rises.

https://www.bbc.co.uk/news/business-58241006

1nvest
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Re: Labour Market Rebound Continues

#437903

Postby 1nvest » August 27th, 2021, 7:58 pm

Once out of Covid and with many sectors no longer having access to low wage migrant (EU) workers then the UK should achieve full employment, helping to cut the cost of otherwise subsidising untrained Brits idle at home who otherwise couldn't have competed with low wage migrant workers.

Wages up, unemployment down, more domestic development/training. Inflationary and reverting from having to QE as interest rates couldn't be lowered any further back to where more conventional interest rate policies might be applied (2% target BoE remit). Without the EU shackles and free movement of people, along with the controls to set ones own currency/interest rates/etc rather than EU style of one size fits none (excepting Germany) ... a.k.a a very healthy/strong economy.

Debt wise is fine, a large chunk of that is owned by the BoE anyway (who returns all of the interest back to the Treasury). Deficit expansion should contract in the absence of furlough and with increased employment.

Regulatory wise the UK should hit Germany and the US who otherwise have advantages. German bad bets were massively bailed out by the rest of the EU (swapped over to the ECB) and it runs a surplus via supplying to the EU. US can print/spend having the primary reserve currency, export its inflation onto others. The US is clearly not a friend of the UK anymore, favours Germany and Ireland instead. Accordingly the UK should look (prioritise) Southward (Africa) and Eastward (India/Australia/Asia) instead of Westward (US).

Had we not left, were still in the corridors of the Eurozone, a "damp/dark northerly EU island", then unemployment was destined towards more Spain like, 15%+ and our own youth would have continued to remain untrained/idle/poorly paid and the economy struggling to sustain that.

ursaminortaur
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Re: Labour Market Rebound Continues

#437996

Postby ursaminortaur » August 28th, 2021, 9:54 am

1nvest wrote:Once out of Covid and with many sectors no longer having access to low wage migrant (EU) workers then the UK should achieve full employment, helping to cut the cost of otherwise subsidising untrained Brits idle at home who otherwise couldn't have competed with low wage migrant workers.

Wages up, unemployment down, more domestic development/training. Inflationary and reverting from having to QE as interest rates couldn't be lowered any further back to where more conventional interest rate policies might be applied (2% target BoE remit). Without the EU shackles and free movement of people, along with the controls to set ones own currency/interest rates/etc rather than EU style of one size fits none (excepting Germany) ... a.k.a a very healthy/strong economy.

Debt wise is fine, a large chunk of that is owned by the BoE anyway (who returns all of the interest back to the Treasury). Deficit expansion should contract in the absence of furlough and with increased employment.

Regulatory wise the UK should hit Germany and the US who otherwise have advantages. German bad bets were massively bailed out by the rest of the EU (swapped over to the ECB) and it runs a surplus via supplying to the EU. US can print/spend having the primary reserve currency, export its inflation onto others. The US is clearly not a friend of the UK anymore, favours Germany and Ireland instead. Accordingly the UK should look (prioritise) Southward (Africa) and Eastward (India/Australia/Asia) instead of Westward (US).

Had we not left, were still in the corridors of the Eurozone, a "damp/dark northerly EU island", then unemployment was destined towards more Spain like, 15%+ and our own youth would have continued to remain untrained/idle/poorly paid and the economy struggling to sustain that.


Before Covid we already had practically full employment.

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Re: Labour Market Rebound Continues

#438051

Postby 1nvest » August 28th, 2021, 3:02 pm

ursaminortaur wrote:Before Covid we already had practically full employment.

But pre-Brexit low levels of apprenticing/development/training to instead import pre-trained.

Migration controls is better than no controls (free movement) as you can be selective as to needs/circumstances.

dealtn
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Re: Labour Market Rebound Continues

#442092

Postby dealtn » September 14th, 2021, 11:18 am

A month later and more news.

https://www.bbc.co.uk/news/business-58543554

Job vacancies now above 1 million (for the first time since records began), and employment now back at pre-Covid levels.

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Re: Labour Market Rebound Continues

#442418

Postby gryffron » September 15th, 2021, 10:21 am

How do they measure national job vacancies? Since many of them are only advertised in the shop window. In fact plenty are "ask your mates" and never advertised at all.

Gryff

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Re: Labour Market Rebound Continues

#442422

Postby Adamski » September 15th, 2021, 10:33 am

gryffron wrote:How do they measure national job vacancies?


They collect them from office for national statistics surveys which every business has to complete public and private sector.

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Re: Labour Market Rebound Continues

#442423

Postby Adamski » September 15th, 2021, 10:35 am

Not just catering and lorry drivers. Spoke to ex work colleague, job market very busy. Inflation will be the next story as employers having to up wages to get quality people.

gryffron
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Re: Labour Market Rebound Continues

#442450

Postby gryffron » September 15th, 2021, 12:18 pm

Adamski wrote:Not just catering and lorry drivers. Spoke to ex work colleague, job market very busy. Inflation will be the next story as employers having to up wages to get quality people.

Good. That's a much better problem to have than the ponzi scheme of endlessly importing ever more cheap foreign workers.

Gryff

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Re: Labour Market Rebound Continues

#442475

Postby GoSeigen » September 15th, 2021, 1:25 pm

gryffron wrote:
Adamski wrote:Not just catering and lorry drivers. Spoke to ex work colleague, job market very busy. Inflation will be the next story as employers having to up wages to get quality people.

Good. That's a much better problem to have than the ponzi scheme of endlessly importing ever more cheap foreign workers.

Gryff


Why does my parody of this xenophobic nonsense get deleted, but the actual xenophobic stuff remains? Are the poor snowflakes reporting my posts???

GS

gryffron
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Re: Labour Market Rebound Continues

#442600

Postby gryffron » September 15th, 2021, 6:41 pm

GoSeigen wrote:Why does my parody of this xenophobic nonsense get deleted, but the actual xenophobic stuff remains? Are the poor snowflakes reporting my posts???

Probably because you use insulting words like "snowflake". But why is that xenophobic? I neither fear nor hate foreigners.

I'd just rather give British youngsters a chance at education, a decent job, and buying a home. Which was much more difficult for them when it was easier and cheaper for employers to import foreign workers than to train a Brit.

Gryff


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