Unemployment Has Peaked

The whole Ed Balls alternative economic strategy was first predicated on a double-dip recession, we hear no more of that nowadays, then it shifted from warning of a double-dip to lamenting slow GDP growth – even though UK GDP growth is above the EU average. But most incessantly Ed Balls wants George Osborne to stop reductions in the bloated public sector headcount “to hold down unemployment”. Coincidentally Labour’s paymasters are public sector unions…

In reality small firms are hiring workers, driving job creation, and according to the authoritative Manpower survey [PDF] hiring intentions are up 8% in the coming quarter and overall nationally recruitment is 3% above trend, a level not seen since the height of the financial crisis 3 years ago. Balls’ ideological adherence to Plan B is now rendered totally unnecessary…




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Quote of the Day

George Osborne paraphrases Boris, telling the FT:

“If the ball came loose at the back of the scrum, I wouldn’t fumble it”

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