In King Charles’ United Kingdom - jobs up, unemployment down, inflation down
(But the BBC can still be relentlessly negative about all this good news)
Montage © Facts4EU.Org
Facts4EU.Org summarises the latest key indicators released in the last 48 hours
Today Facts4EU.Org brings readers some reassuring news to lift all our spirits as we go into the weekend before Her Majesty Queen Elizabeth’s state funeral on Monday.
Over the last 48 hours the Office for National Statistics has released sets of data on key measures affecting people and the economy.
Brexit Facts4EU.Org Summary
King and country - What King Charles is inheriting
1. Jobs in Brexit Britain
- No. of payrolled employees : Up another 71,000 on the month
- Total: 29.7m – The highest on record
- Total workforce jobs : Up by 290,000 in the quarter to 35.8m – the highest on record
- The number of job vacancies fell slightly but was still at 1,266,000 in the quarter
© Brexit Facts4EU.Org 2022 - click to enlarge
2. Unemployment in Brexit Britain
- Unemployment rate : Down another 0.2% on the quarter to 3.6%
- Unemployment rate is now at its lowest level for almost 50 years
3. Inflation in Brexit Britain
- Both measures of inflation fell in the 12 months to August 2022
- Consumer Price Index including Housing (CPIH) : Down by 0.2% to 8.6%
- Consumer Price Index (CPI) : Down by 0.2% to 9.9%
Source: All data from the ONS. Note: The ONS say that “the Consumer Prices Index including owner occupiers’ housing costs (CPIH) is our lead and most comprehensive measure of consumer price inflation.”
The BBC told you when the CPI rate went over 10% - they did not tell you when it fell below that
As stated above, the ONS’s preferred and recommended inflation measure is CPIH, which has now fallen to 8.6%. The BBC continues to use CPI instead.
Putting that aside, last month the BBC gleefully told the nation that CPI inflation in July had risen above 10%. In August it fell to 9.9% but the BBC went strangely quiet on this. We saw no headlines saying “Inflation is now back below 10%”.
When the economy grew again in July, what was the BBC’s headline? “UK economy grew more slowly than expected in July”. (incidentally, August’s figure is not yet available.)
And how is the EU’s largest economy (by far) doing? Hmm, not so well
On Tuesday (13 Sept 2022) the Confederation of German Employers' Associations (BDA) held their annual German Employers' Day conference, addressed by the new Chancellor Olaf Scholz.
The President of the BDA left the Berlin government in no doubt as to how serious things are.
"We have a dramatic economic situation, we are struggling with a rising inflation rate, immense energy prices and severe shortages of raw materials, intermediate products and other goods."
- Rainer Dulger, President, BDA, Berlin, 13 Sept 2022
German media are reporting on this crisis every week. Here are just a few excerpts: “In the business world, the mood is worsening with each passing day”, “now a new recession seems inevitable”, “The shortage of skilled labor is greater than ever, and energy prices are becoming unaffordable”, “According to surveys by trade associations, one out of three companies in Germany already believe that their existence is under threat.”
Observations
As the country now reigned over by King Charles comes together to mourn the late Queen Elizabeth II, it is easy to miss items of good news – particularly if you watch the BBC or Sky News.
Today we have attempted to correct that. As always we have used official data, in this case from the Office for National Statistics released over the last two days.
No-one is for one moment suggesting that we don’t face strong economic headwinds caused by Putin’s illegal invasion of Ukraine. That said, all is not doom and gloom, as we have shown. All the major indicators are positive.
In Germany, the business sector is almost in a state of panic. But you won’t see that on the BBC….
God save the King.
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[ Sources: ONS | BBC | BDA | German media ] Politicians and journalists can contact us for details, as ever.
Brexit Facts4EU.Org, Fri 16 Sept 2022
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