Osborne’s Olympic Hangover

If George Osborne were not putting his feet up he would surely be gloating about today’s latest unemployment figures, which show that the jobless rate has dipped to the lowest level since July 2011. Unemployment fell to 8% last month while over 130,000 new jobs were created. But Chancellor Zero should not be feeling too pleased with himself.

Stats released by the EU last night show that Britain’s economy is performing worse even than crisis-hit Spain. The UK shrank by 0.7% in the last quarter, more than Spain’s 0.4% decrease and outdone only by bankrupt Greece, Portugal and Cyprus. Meanwhile London’s businesses have reported an unexpected decline in sales during the Olympics, with the two-week tourists failing to make up for all those who deserted the capital. Recovery will be a marathon, not a sprint…

mdi-tag-outline Statistics
mdi-account-multiple-outline George Osborne
mdi-timer August 15 2012 @ 11:14 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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