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Wages are rising faster than they have in two years

The number of people in work is up, and people are moving from part-time to full-time work

Average earnings in the UK are rising. The latest release from the UK's number guys – the Office of National Statistics (ONS) – has shown a move from part-time to full time work, and more people in employment. Both of which = pay rise. Woop.

What it means:  Yesterday we found out that the rate prices are rising (the  ) is slowing down. When you couple that with an increase in salaries, that means we suddenly have a bit more cash in our pockets. Including bonuses, average earnings in the first three months of the year were 2.8 per cent higher than the same period last year.

More cash in our pockets means we might start spending more money. Lots of analysts think that this means the Bank of England might raise interest rates. The   tries to encourage people to keep spending when times are hard by lowering the charge, or amount of  , you pay on borrowing money – it's called monetary policy. That means when wages rise and prices start to fall and people feel a bit richer they can raise interest rates again. Analysts are saying we can expect a rise in interest rates soon, which will make it more expensive to borrow, but you can also earn more when you save. Swings and roundabouts.

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Reader Comments

  • RW

    Your right to a degree. You mentioned “the wandering Jew”.

    I elaborate that the Jewish people, historically have tended to migrate almost exclusively to locations that are economically and culturally vibrant already. I would speculate that Jews have thrived in these places and have often improved the bounds of their economies and knowledge base.

    You can also ask; how many massive entertainment conglomerates, Nobel winners or billionaires has Isreal developed? If Jews are so capable, why isn’t Tel Aviv the Rome of our time?

    Jews are successful because they value education, maintain a strong social cohesive, they actively monitor and have a good sense for Zeitgeist wherever they are and they carefully choose the places they settle and congregate themselves heavily in these choice locations.

    But most importantly (haulocaust increased the importance of this aspect), they actually designed their culture for success. They not only attend Harvard, they use what they learned to better the group as a whole. With as much, they studied intricate networking systems, adapted to it and in many cases improved upon them. (See how Japan acquired Aegis warships and made them better).

    Of course there is nothing wrong with any of this. It’s when you elaborately gain disproportionate power in any society where you would stand out, you must take care when attempting to make a society better (Civil Rights movement) and rewriting that society all together (mass immigration). Ask blacks in China, Mexico, Philippines or India how much opportunity they have? Go to businesses owned by their American diaspora and see how many blacks they hire. Go to Silicon Valley and see how many East or South Asian tech workers wish they could work with more black people. California might work as a state, but as a nation, I think your rolling the nuclear dice here. I hope we can succeed as a tolerant pluralistic superpower but at this stage in human societal development, it’s a pipe dream.

    And if Jews really are the icon for success, they would see that fundamental human successes happen over generations. Just look at the rest of the planet? Are we ready?