BREAKING NEWS – Unemployment Falls
Comentators have been surprised today by the news that UK unemployment fell by 17,000 in the three months to the end of February. The number of people in employment also rose by 143,000 suggesting that, as the Government hoped, the private sector is taking up the slack as public sector jobs are lost.
This follows yesterday’s news that inflation (as measured by the CPI) fell back sharply to 4% from 4.4%, easing fears that interest rates may have to rise in the next few months.
It is notable that despite Labour’s doom and gloom the British people are getting on with getting the economy back on its feet and taking the necessary deficit reduction measures in their stride. It will be interesting to see if Ed Balls hides from the TV cameras today as he usually does when there is good economic news.