 Your new post is loading...
Your new post is loading...
Scoop.it!
Nissan is to lay off hundreds of workers from its car plant in Sunderland, as it shifts production away from diesel vehicles amid a sharp fall in sales. No comment yet.
Sign up to comment
Scoop.it!
Citizens Advice says hundreds of thousands of UK families cannot afford to put money in their meters.
Graham Watson's insight:
It is easy for many of us to overlook poverty. But it exists and it makes extreme demands on people, reducing their ability to participate fully in civil society. The latest Citizens Advice report details some of the costs.
Scoop.it!
Construction has begun on cluster of skyscrapers that will transform city over next decade
Graham Watson's insight:
Good news if you believe in the Economist's "Crane Index" that suggests that the number of cranes on the skyline in a capital city is a good proxy for the level of economic growth.
Can you intuit why? It's fairly straightforward, and you might refer to XEPD at some point too!
Scoop.it!
Vauxhall sales have gone into reverse, as the company feels the downturn in demand from UK motorists. Here we explain the reasons for its decline and why British consumers simply aren't buying as many new cars.
Graham Watson's insight:
A nice bit of macroeconomics here - a look at the history of the UK car industry by looking at the history of Vauxhall - from its humble beginnings on Wandsworth Road to its post-Brexit future. If it has one, that is.
Scoop.it!
A slowdown in womenswear price rises during March sent UK consumer price inflation down to 2.5%.
Graham Watson's insight:
Inflation is down again, highlighting the complexity of monetary policy at the moment. Despite the fall in inflation, it seems that an interest rate rise is on the cards, and it's worth trying to understand why; again, it asks some searching questions about the remit of the Bank of England as outlined by the 1998 Bank of England Act.
However, for now inflation has fallen to 2.5% and seems to be moving closer to target faster than expected.
Scoop.it!
Expected growth of 0.2% for February turns into 0.2% decline, ONS data shows
Graham Watson's insight:
This article is a lovely example of how editorial position is important: "UK economic growth has fallen by half". But what does this actually mean? A halving of growth means that "growth was set to fall to 0.2% in the first quarter of 2018 from 0.4% in the final three months" of 2017.
Yes, growth is weakening, but not as much as the headline might imply.
Scoop.it!
Sterling breaks above $1.43 as recovery continues from post-referendum lows.
Graham Watson's insight:
The pound is up. Good news for Britons going abroad, and potentially inflation too.
Scoop.it!
Editorial: Quantitative easing succeeded in staving off disaster but it was not enough to regenerate a fair economy. This could have been achieved by a redistributive, expansionary fiscal policy which ministers were ideologically resistant to
Graham Watson's insight:
I have to agree with this take - I suspect that the introduction of QE was such a panic measure that the distributive consequences of the policy weren't really contemplated.
This Guardian article argues that the choice was based on a particular ideological perspective, rather than policy implications. It is a brief, but insightful view.
Scoop.it!
As Commonwealth leaders meet in London, its secretary-general says the body is needed more than ever.
Graham Watson's insight:
In the run up to CHOGM - as the rest of the Commonwealth calls it - a simple question. Can the Commonwealth replace the EU as a focus for UK trade, asks Kamal Ahmed. And the answer? Well, perhaps. But the reality is that whilst China does an awful lot of trade with the Commonwealth, the grouping hasn't always had the same sort of trade benefits for the UK.
Scoop.it!
At least 12,000 more jobs are on the line on the UK’s high street as the number of brands in peril reaches levels not seen since the last recession.
Graham Watson's insight:
The Telegraph looks at the scale of the challenges facing high street retailers: the conclusion is that the current level of bankruptcy and job losses are in line with levels more commonly associated with recession.
Scoop.it!
Citizens Advice says a bad month of self-employment income will not be rescued by the new benefit.
Graham Watson's insight:
Another aspect of the Universal Credit story that I mentioned earlier: the system is currently penalising some benefit claimants, notably the self-employed.
Scoop.it!
The natural rate of unemployment is defined as the rate of unemployment that would occur in an economy if there were no cyclical unemployment. In othe
Graham Watson's insight:
Forgive me - I missed this particular birthday treat from Marginal Revolution University - a lovely summary of the Natural Rate of Unemployment. However, be warned, many (including the IB syllabus) argue that that Natural Rate of Unemployment also includes seasonal unemployment, as well as structural and frictional unemployment.
Scoop.it!
Around 300 jobs will be axed at Carpetright after the embattled retailer unveiled plans to shut another 81 stores and tap investors for £60m under a sweeping restructure.
Graham Watson's insight:
More bad news for the High Street. Carpetright are looking at axing jobs and stores to reshape the business.
|
Scoop.it!
The National Audit Office says the Treasury's estimate is "reasonable" but could easily go up or down.
Graham Watson's insight:
Yet more Brexit uncertainty.
Scoop.it!
Bank of England governor says rate rise is “likely” this year but any hikes will depend on Brexit talks.
Graham Watson's insight:
What could have prompted the Governor of the Bank of England to speak out? Could it have been this week's inflation data. And as a result, is he suggesting that the rate rise that most predict is going to happen next month has been postponed, in his eyes.
I like the following statement: "We'll sit down calmly and look at it all in the round". All goes to show that the money he's earning isn't wasted...
Scoop.it!
Prices are rising at their slowest pace in a year as inflation has dropped away far faster than economists expected, giving welcome relief to household finance.
Graham Watson's insight:
The Telegraph's take on the news that inflation is falling, suggesting that it will make raising interest rates harder. I don't thin k it will; the Bank of England has shown increasing disregard for the terms of the 1998 Bank of England Act.
As a footnote, it's worth following Andrew Sentence and David Blanchflower on Twitter, both former MPC members; they tend to get quite excited by all of this.
Scoop.it!
The new scheme to fund apprenticeships needs to be reformed, says the British Chambers of Commerce.
Graham Watson's insight:
The Apprenticeship Levy summed up in a single headline. Government failure all round.
Scoop.it!
Unemployment fell by 16,000 between December and February to 1.42 million.
Graham Watson's insight:
According to the LFS, unemployment is down by 16,000 - but the reality is that this is within the established margin of error, so I don't pay any great heed to that.
Of more interest, is the question as to whether the pay squeeze is over? I'd hardly call a 0.2% rise in real incomes anything to write home about, but it is happening.
Scoop.it!
Indecisive consumers who abandon their online shopping baskets are causing retailers to lose £18bn worth of potential sales each year, a new survey claims.
Graham Watson's insight:
The Daily Telegraph looks at the switch from the high street to online retail, detailing how retail has changed.
Scoop.it!
Resolution Foundation report reveals a third of millennials are never likely to own their home.
Graham Watson's insight:
This article has implications for all sorts of things: the functioning of the labour market, the distribution of income and inter-generational equity among other things.
Is it either economical efficient or fair? Discuss.
Scoop.it!
Consumers abandon high street during bad weather, prompting steepest fall since 2010
Graham Watson's insight:
More bad news for retailers - but beware, does a snapshot necessarily reflect the overall trend?
Scoop.it!
Labour MPs co-author report urging public investment and a bigger role for unions
Graham Watson's insight:
Merely a mention of the Fabians reminds me of a bygone age - where politics was bipolar, and people weren't - at least they weren't identified as such. However, the Fabians are calling for an end to austerity, The report calls for a fairer tax system - i.e. more progressive - and a less flexible labour market, not something that you often hear. They argue that this could boost household incomes and redress the balance of the last few years.
Scoop.it!
The UK's biggest car maker will not be renewing the contracts of 1,000 temporary workers.
Graham Watson's insight:
Ooops. Negative multiplier for the West Midlands.
Scoop.it!
Analysis shows that self-employed workers could receive less over a year than employees in “traditional” jobs who earn the same amount
Graham Watson's insight:
An article which does what it says on the tin - is this an example of government failure or just an example of a badly designed policy.
Scoop.it!
Scotland, Wales and the north west of England are set to lead the UK’s housing market in the coming year, with London the only area that will fail to join in any resurgence in house prices, surveyors believe.
Graham Watson's insight:
The housing market seems likely to recover everywhere other than London, according to the Royal Institution of Chartered Surveyors (RICS). Good news.
|
Is this a one-off or a sign of things to come in the car industry. Nissan laying off workers in Sunderland will have negative implications for the region, and trigger a negative multiplier effect. And Lord alone knows how Sundelrand's imminent relegation will further dampen consumer confidence...