Macroeconomics: UK economy, IB Economics
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Macroeconomics: UK economy, IB Economics
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A brief overview of relevant articles for IB and A-Level all relating to the UK economy
Curated by Graham Watson
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Scooped by Graham Watson
March 21, 2018 5:04 PM
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UK earnings growing at fastest rate in more than two years | Business | The Guardian

UK earnings growing at fastest rate in more than two years | Business | The Guardian | Macroeconomics: UK economy, IB Economics | Scoop.it
From www.theguardian.com - March 21, 2018 8:17 AM
Interest rate rise looms as wages increase more than expected in three months ending in January
Graham Watson's insight:
Larry Elliott reflects on today's unemployment figures - arguing that the pick up earnings suggest that interest rates are likely to rise sooner rather than later. The article notes that "including bonuses, average earnings in the three months to January were 2.8% higher than in the same quarter a year earlier, the highest since September 2015."

The Monetary Policy Committee is meeting this week and this might prompt a reaction: are rates on the point of rising? 
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Scooped by Graham Watson
March 21, 2018 4:53 PM
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Pay rises and unemployment falls as Britain’s money worries ease 

Pay rises and unemployment falls as Britain’s money worries ease  | Macroeconomics: UK economy, IB Economics | Scoop.it
From www.telegraph.co.uk - March 21, 2018 4:48 PM
Wage growth surged to a three-year high in January as families are at last feeling the benefit of the economic recovery in their pay packets.
Graham Watson's insight:
Another fascinating insight into editorial line - with the Telegraph trumpeting the fact that pay has risen and unemployment has fallen. However, look carefully at the data: the number of people unemployed has actually risen! 

How can this be: well, if the number of people in the labour force has risen quicker, then the unemployment rate will fall. 

And, yes, there is some good news in that economic inactivity has fallen. But pay rises are only rises in a nominal sense, and I love the idea that the "quality of jobs is also improving" - the basis for this assertion looks marginal to me. 
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Scooped by Graham Watson
March 20, 2018 11:10 AM
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Inflation eases to 2.7% on falling petrol prices

Inflation eases to 2.7% on falling petrol prices | Macroeconomics: UK economy, IB Economics | Scoop.it
From www.bbc.co.uk - March 20, 2018 11:02 AM
Consumer price inflation falls from 3% as fuel prices fall and food costs rise more slowly.
Graham Watson's insight:
A slightly larger than forecast dip in the rate of inflation, down from 3% to 2.7% as fuel prices fall and food costs rose, but at a slower rate than the previous year. Additionally, the post-Brexit depreciation of the pound is being squeezed out of the data. And as a result, this implies that the pay squeeze is easing, which is good news for ordinary families.
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Scooped by Graham Watson
March 21, 2018 4:59 PM
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Powell warns interest rate rises are a fine balance as he hikes in his first Fed meeting

Powell warns interest rate rises are a fine balance as he hikes in his first Fed meeting | Macroeconomics: UK economy, IB Economics | Scoop.it
From www.telegraph.co.uk - March 21, 2018 4:53 PM

New Federal Reserve chairman Jerome Powell has hiked interest rates from 1.5pc to 1.75pc as the US economy has continued to strengthen.

Graham Watson's insight:
US interest rates have risen as a result of the first Fed meeting of Jerome Powell's tenure. However, he's warned that the case for increasing rates isn't cut and dried, although further rate rises are likely in the remainder of 2018. 
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Scooped by Graham Watson
March 21, 2018 3:39 AM
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Cities in north and Midlands dominate growth measure | Business | The Guardian

Cities in north and Midlands dominate growth measure | Business | The Guardian | Macroeconomics: UK economy, IB Economics | Scoop.it
From www.theguardian.com - March 20, 2018 8:01 PM
Report places Manchester top across England and Wales, with London only coming in 20th
Graham Watson's insight:
An interesting change in the pattern of growth in the UK, with urban regeneration in Manchester and Birmingham helping drive population growth and job creation in the North and Midlands. And if this continues, then it might - and I emphasis just might - start to redress growing regional inequality.
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