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Explain this

lse:lloy

#1

Thats our GDP growth or no growth over last 10 years

It will get severely worse before anything improves - if at all


#2

so any answers yet ?

this is the real picture which hasnt improved at all
and in effect getting worse by the day


#3

It seems to me that the ill-conceived policy of austerity has throttled UK growth with resultant stagnation. We need growth to produce the wealth to pay down the debt. Certainly an element of Keynesian stimulation from 2010 would have improved the picture.

Cheers,

Frog in a tree


#4

The most deceiving of Last 10 year mantra has been lowest UnEmployment in UK

which might be true
but that also means new jobs havent been created
and people are holding onto lower wages jobs whichever available

Show just started


#5

When HMG figures state that unemployment is the lowest since 1975, there is no qualitative data involved. If you are in part-time work you count the same as a full-timer. Many of these new jobs are very low quality with low pay and zero hours contracts. Ken Loach’s new movie “Sorry We Missed You” describes the desperation of many families who are struggling to survive on these appalling zero hours contracts.

Frog in a tree


#6

I’d very much like to see official figures on average salary IN REAL TERMS, how many people are working more than one job (The American ‘dream’), how many of these new jobs are low paid, gig economy jobs with no benefits etc. How many people have been removed from benefits for various reasons (that set to rise by hundreds of thousands when the Tories implement Universal Credit across the whole country|).

My sense is that the majority of lower paid people are actually worse off in real terms over the last 10 years, but the employment figures are thrown back at you when you ask questions.

I think anyone reliant on tax credits to top up their wages will be seeing real hardship over the next 12 months or so. Including low-paid, self-employed people who will all be removed from Universal credit automatically after 6 months, as I understand it.

That will put a lot of pressure on some parts of the UK economy.


#7

@Eadwig

Even if Un-Employment was lowest
The lack of new jobs created simply means NO Growth

In conclusion the future generations are fucked.

I think someone said we are over due riots - I dont want that but I am beginning to think it might just be coming, wouldnt mind WW-3 or WW-4 to restart the machine


#8

Eadwig,

In real terms UK incomes are less than they were before the 2008/9 crash.

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/averageweeklyearningsingreatbritain/august2019

Cheers,

Frog in a tree


#9

Actual picture always lags with any data
So I am certain its worse
Support that we need to see rising poverty

Sad but true

What will be fun or not
When market friendly Tory Govt push Brexit
Flight of money will come then