Economy Watch

[3rdRock]

http://www.theguardian.com/business/201 ... eficit-ons

Blows for Osborne as growth revised down and current account deficit soars

ONS says UK economy did less well than initially thought, reducing annual growth rate to third quarter from 3% to 2.6%

Meanwhile, across the pond:

http://www.theguardian.com/business/201 ... uarter-gdp

US economy posts strongest growth in 11 years


Commerce Department revised up its GDP growth estimate to 5%, citing stronger consumer and business spending that it had previously factored in

http://www.bbc.co.uk/news/business-30591560

The Dow Jones has closed above 18,000 for the first time after figures showed the US economy grew at its fastest rate in 11 years in the third quarter.

[3rdRock]

http://i100.independent.co.uk/article/w ... xJTAYLfhYl

Why we’re still feeling economic pain despite the 'recovery', in 7 charts

also

http://i100.independent.co.uk/article/a ... xJXZxK3tOx

Six charts George Osborne doesn't want you to see

[raspberry-blower]

Meanwhile, across the pond:

http://www.theguardian.com/business/201 ... uarter-gdp

US economy posts strongest growth in 11 years


Commerce Department revised up its GDP growth estimate to 5%, citing stronger consumer and business spending that it had previously factored in

http://www.bbc.co.uk/news/business-30591560

The Dow Jones has closed above 18,000 for the first time after figures showed the US economy grew at its fastest rate in 11 years in the third quarter.

About that surge in Q3

In a word: Obamacare

[PS_RalphW]

UK GDP per capita finally returns to pre-2008 recession levels.

https://twitter.com/jamestplunkett/stat ... wsrc%5Etfw

However, the massive increase in inequality means that the vast majority are still worse off in real terms....

[AutomaticEarth]

UK GDP per capita finally returns to pre-2008 recession levels.

https://twitter.com/jamestplunkett/stat ... wsrc%5Etfw

However, the massive increase in inequality means that the vast majority are still worse off in real terms....

Yes. Lots of people I know had 'good jobs' pre 2008. They have jobs now, but paying much less than they were earning previously. I call that wage/capital destruction ie deflation.....

[Mark]

Yes. Lots of people I know had 'good jobs' pre 2008. They have jobs now, but paying much less than they were earning previously. I call that wage/capital destruction ie deflation.....

Depends what people do......
Scientific/Engineering jobs very buoyant at the mo.....
Are the people you know in the Financial/Services sectors ?

[AutomaticEarth]

Yes. Lots of people I know had 'good jobs' pre 2008. They have jobs now, but paying much less than they were earning previously. I call that wage/capital destruction ie deflation.....

Depends what people do......
Scientific/Engineering jobs very buoyant at the mo.....
Are the people you know in the Financial/Services sectors ?

Agree with you on the Sci/Eng sector being bouyant. IT also (well, certain parts of it).

The people that I've seen mainly affected were in the construction sector (which got hit really bad), and mainly the services sector. Most were able to get re-employed fairly quickly, but a fair few are earning quite a bit less than they did before 2008.