GDP per capita returns to pre-recession levels

Mistermeaner

I'm going on dragons den with that idea

Thrugelmir

CLAPTON wrote: »

strange how unemployment figures seem to be failling

There's been lots of announcements of job losses this year. None are immediate. Takes months to feed through. Shell and Centrica announced large cuts this week. Also in June/July HSBC is cutting 8,000 jobs in the UK, BBC is cutting 1,000, Whitehall 10,000 over the next 5 years. July saw the first rise in unemployment numbers for 2 years. Also numbers in work fell by 67,000.

BobQ

Generali wrote: »

Kinda.

The Tories proposition I would argue is that more people should simply cut their own cheese rather than have the Government take taxes from them (at threat of imprisonment) and cut the cheese for them.

What we have seen is that cheese cutters and window starers have lost their jobs, although arguably more of the latter, and all of them and more have managed to find jobs making beer and bread to go with the cheese that people are cutting themselves.

You might need to factor into this analysis that the cheese cutters are now self employed and only work 20 hours a week as they cannot make bread more efficiently than Lidls while the window starers are on zero hours, minimum wage contracts at the brewery and rarely get 20 hours a week. Both count as employed.

Meanwhile cheese is imported pre-cut from Turkey and the empty premises that used to provide the cheese cutting service is derelict.

Generali

BobQ wrote: »

You might need to factor into this analysis that the cheese cutters are now self employed and only work 20 hours a week as they cannot make bread more efficiently than Lidls while the window starers are on zero hours, minimum wage contracts at the brewery and rarely get 20 hours a week. Both count as employed.

Meanwhile cheese is imported pre-cut from Turkey and the empty premises that used to provide the cheese cutting service is derelict.

All perfectly true but from the OP we can say that the total amount of cheese, bread, beer and pickles produced has increased.

Some of the people working for companies making those things are on zero hours contracts but the vast majority of those on zero hours contracts are happy to be employed in that way just as I was when I worked in a hotel as a casual as a student. Contracted hours would have been hopeless when exams came round or essays became due.

My contract would now be described as zero hours although the term didn't exist at the time. As a result it would be fair to say that there has been an infinity percent increase in zero hours contracts over the past two decades.

The humanity.

stator

The Rich get Richer, GDP goes up.

Thrugelmir

stator wrote: »

The Rich get Richer, GDP goes up.

GDP is not profit or wealth.

Generali

Thrugelmir wrote: »

GDP is not profit or wealth.

Yup, not connected to wealth in any way.

GDP is a flow of output.