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Trade war: Trump promises deal with China 'when the time is right' - business live Trade war: Trump promises deal with China 'when the time is right' - business live
(32 minutes later)
After yesterday’s heavy losses, global stock markets are turning more positive - as Donald Trump’s latest tweets calm the mood.
The main European share indices are all positive today, and Wall Street is also expected to open high (after its worst falls in months yesterday).
UK FTSE 100: up 67 points, or 0.9%, at 7231
German DAX: up 64 points or 0.5% at 11,940
French CAC: up 61 points or 1.2% at 5,324
Donald Trump has now tweeted that a trade deal with China will be struck, “when the time is right”.Donald Trump has now tweeted that a trade deal with China will be struck, “when the time is right”.
In another early morning burst of tweets, the president cites his “friendship” with Xi Jinping - perhaps a hint of a deal at next month’s G20 leaders’ meeting?In another early morning burst of tweets, the president cites his “friendship” with Xi Jinping - perhaps a hint of a deal at next month’s G20 leaders’ meeting?
Curiously, Trump also mentions recovering “some” of the ground lost to China -- a hint that he could compromise to get a deal?Curiously, Trump also mentions recovering “some” of the ground lost to China -- a hint that he could compromise to get a deal?
When the time is right we will make a deal with China. My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn’t make any sense. We have to be allowed to make up some.....When the time is right we will make a deal with China. My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn’t make any sense. We have to be allowed to make up some.....
....of the tremendous ground we have lost to China on Trade since the ridiculous one sided formation of the WTO. It will all happen, and much faster than people think!....of the tremendous ground we have lost to China on Trade since the ridiculous one sided formation of the WTO. It will all happen, and much faster than people think!
He’s also repeated his pledge to help American farmers - a key demographic ahead of next year’s presidential elections.He’s also repeated his pledge to help American farmers - a key demographic ahead of next year’s presidential elections.
Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now. Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference based on a very high China buy......Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now. Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference based on a very high China buy......
....This money will come from the massive Tariffs being paid to the United States for allowing China, and others, to do business with us. The Farmers have been “forgotten” for many years. Their time is now!....This money will come from the massive Tariffs being paid to the United States for allowing China, and others, to do business with us. The Farmers have been “forgotten” for many years. Their time is now!
Newsflash: Donald Trump has launched a new Twitter onslaught, accusing nations such as China of treating the US as a ‘piggy bank’ .Newsflash: Donald Trump has launched a new Twitter onslaught, accusing nations such as China of treating the US as a ‘piggy bank’ .
The president also claims that his tariffs have helped US steel industry to boom (output is up a healthy 7% this year).The president also claims that his tariffs have helped US steel industry to boom (output is up a healthy 7% this year).
Trump adds that he won’t allow China to renegotiate the draft agreement drawn up during recent negotiations, even though the two sides could “make a deal tomorrow” if he chose.Trump adds that he won’t allow China to renegotiate the draft agreement drawn up during recent negotiations, even though the two sides could “make a deal tomorrow” if he chose.
In one year Tariffs have rebuilt our Steel Industry - it is booming! We placed a 25% Tariff on “dumped” steel from China & other countries, and we now have a big and growing industry. We had to save Steel for our defense and auto industries, both of which are coming back strong!In one year Tariffs have rebuilt our Steel Industry - it is booming! We placed a 25% Tariff on “dumped” steel from China & other countries, and we now have a big and growing industry. We had to save Steel for our defense and auto industries, both of which are coming back strong!
China buys MUCH less from us than we buy from them, by almost 500 Billion Dollars, so we are in a fantastic position. Make your product at home in the USA and there is no Tariff. You can also buy from a non-Tariffed country instead of China. Many companies are leaving China.....China buys MUCH less from us than we buy from them, by almost 500 Billion Dollars, so we are in a fantastic position. Make your product at home in the USA and there is no Tariff. You can also buy from a non-Tariffed country instead of China. Many companies are leaving China.....
....so that they will be more competitive for USA buyers. We are now a much bigger economy than China, and have substantially increased in size since the great 2016 Election. We are the “piggy bank” that everyone wants to raid and take advantage of. NO MORE!....so that they will be more competitive for USA buyers. We are now a much bigger economy than China, and have substantially increased in size since the great 2016 Election. We are the “piggy bank” that everyone wants to raid and take advantage of. NO MORE!
We can make a deal with China tomorrow, before their companies start leaving so as not to lose USA business, but the last time we were close they wanted to renegotiate the deal. No way! We are in a much better position now than any deal we could have made. Will be taking in.....We can make a deal with China tomorrow, before their companies start leaving so as not to lose USA business, but the last time we were close they wanted to renegotiate the deal. No way! We are in a much better position now than any deal we could have made. Will be taking in.....
Billions of Dollars, and moving jobs back to the USA where they belong. Other countries are already negotiating with us because they don’t want this to happen to them. They must be a part of USA action. This should have been done by our leaders many years ago. Enjoy!Billions of Dollars, and moving jobs back to the USA where they belong. Other countries are already negotiating with us because they don’t want this to happen to them. They must be a part of USA action. This should have been done by our leaders many years ago. Enjoy!
Donald Trump’s claim that America’s steel industry is booming thank to his tariffs has been fact-checked, and found wanting.Donald Trump’s claim that America’s steel industry is booming thank to his tariffs has been fact-checked, and found wanting.
Here’s Lydia DePillis of CNN:Here’s Lydia DePillis of CNN:
Morning Trump tweet fact checking time! First of all, neither the auto nor the defense industries were asking to be saved from foreign steel. Defense manufacturers already buy most of their steel domestically and the tariffs just allowed US producers to raise prices. https://t.co/UxghnVvCkRMorning Trump tweet fact checking time! First of all, neither the auto nor the defense industries were asking to be saved from foreign steel. Defense manufacturers already buy most of their steel domestically and the tariffs just allowed US producers to raise prices. https://t.co/UxghnVvCkR
On the big and growing steel industry thing -- here's what that looks like. On an index basis, we're all the way back to where we were in 2012. https://t.co/RftwC27HLK pic.twitter.com/IExRvvTUaeOn the big and growing steel industry thing -- here's what that looks like. On an index basis, we're all the way back to where we were in 2012. https://t.co/RftwC27HLK pic.twitter.com/IExRvvTUae
Bloomberg’s Michael McDonough points out that the steel industry has lagged the wider US stock market of late:Bloomberg’s Michael McDonough points out that the steel industry has lagged the wider US stock market of late:
U.S. Steel Producers, Percent Change Since U.S. Presidential Election vs. the S&P 500 (pink line) pic.twitter.com/UqikihS08vU.S. Steel Producers, Percent Change Since U.S. Presidential Election vs. the S&P 500 (pink line) pic.twitter.com/UqikihS08v
Today’s jobs reports suggests Britain’s economy is unaffected by the US-China trade war...but the same can’t be said of Germany.Today’s jobs reports suggests Britain’s economy is unaffected by the US-China trade war...but the same can’t be said of Germany.
German economic confidence has fallen sharply, according to the monthly survey survey from the ZEW institute.German economic confidence has fallen sharply, according to the monthly survey survey from the ZEW institute.
Its economic sentiment index fell to minus 2.1 points this month, down from 3.1 in April, dashing hopes of a rise to 5.0. This index measures expectations of future economic performance.Its economic sentiment index fell to minus 2.1 points this month, down from 3.1 in April, dashing hopes of a rise to 5.0. This index measures expectations of future economic performance.
ZEW president Achim Wambach blamed the ongoing trade conflict between the world’s two biggest economies:ZEW president Achim Wambach blamed the ongoing trade conflict between the world’s two biggest economies:
“Financial market experts continue to expect restrained economic growth for the coming six months.“Financial market experts continue to expect restrained economic growth for the coming six months.
“The latest escalation in the trade conflict between the United States and China has once again increased uncertainty about German exports, and thereby a central factor for GDP growth.“The latest escalation in the trade conflict between the United States and China has once again increased uncertainty about German exports, and thereby a central factor for GDP growth.
ZEW also reports that firms are slightly less pessimistic about current economic conditions.ZEW also reports that firms are slightly less pessimistic about current economic conditions.
After seven months of decline, ZEW current conditions improved marginally in May. However, level still poins to a slight contraction in economic activity. Economic outlook weakened a bit. No sign yet of a clear turnaround in the German economy #macrobond pic.twitter.com/lPznhp3EGlAfter seven months of decline, ZEW current conditions improved marginally in May. However, level still poins to a slight contraction in economic activity. Economic outlook weakened a bit. No sign yet of a clear turnaround in the German economy #macrobond pic.twitter.com/lPznhp3EGl
The big picture is that Britain’s economy has created more jobs than expected over the last few years....but pay growth has lagged behind.The big picture is that Britain’s economy has created more jobs than expected over the last few years....but pay growth has lagged behind.
Brexit minister James Cleverly understandably highlights the first part:Brexit minister James Cleverly understandably highlights the first part:
As this graph shows, job growth has consistently exceeded projections. The next tasks are to keep wage growth ahead of inflation, make sure that jobs are stable, and that they are the kind of jobs that people and society value. A job is good, a good job is better. pic.twitter.com/5ZQRpgWO9aAs this graph shows, job growth has consistently exceeded projections. The next tasks are to keep wage growth ahead of inflation, make sure that jobs are stable, and that they are the kind of jobs that people and society value. A job is good, a good job is better. pic.twitter.com/5ZQRpgWO9a
The Resolution Foundation gives the other side of the story:The Resolution Foundation gives the other side of the story:
Nominal pay growth has tailed off slightly (3.3 per cent in the three months to March 2019, down from 3.4 percent) suggesting that wage pressure is, if anything, falling, and that real wage growth is now being supported by below-target inflation. pic.twitter.com/LL3Gm5laDgNominal pay growth has tailed off slightly (3.3 per cent in the three months to March 2019, down from 3.4 percent) suggesting that wage pressure is, if anything, falling, and that real wage growth is now being supported by below-target inflation. pic.twitter.com/LL3Gm5laDg
The public-private sector split on pay growth continues. There was lower pay growth in the public sector, while pay growth in the private sector held steady. pic.twitter.com/eS8hdPztB7The public-private sector split on pay growth continues. There was lower pay growth in the public sector, while pay growth in the private sector held steady. pic.twitter.com/eS8hdPztB7
The big picture is that 11 years on from the financial crisis, we are still earning £8 a week less (in real terms) than we did in 2008. pic.twitter.com/XDmjHwJ9omThe big picture is that 11 years on from the financial crisis, we are still earning £8 a week less (in real terms) than we did in 2008. pic.twitter.com/XDmjHwJ9om
Here’s the full story:Here’s the full story:
UK wage growth stalls despite record employmentUK wage growth stalls despite record employment
Disappointing news: Britain’s economy has become even less productive.Disappointing news: Britain’s economy has become even less productive.
Labour productivity – effectively the amount of output we produce -- fell by 0.2% in the last three months, the third consecutive quarterly fall.Labour productivity – effectively the amount of output we produce -- fell by 0.2% in the last three months, the third consecutive quarterly fall.
It’s a consequence of firms failing to invest in new machinery and equipment, and instead relying on recruiting more workers to cover the gaps.It’s a consequence of firms failing to invest in new machinery and equipment, and instead relying on recruiting more workers to cover the gaps.
Major downside of strong UK job growth is persistently weak labour productivity. Output per hour down 0.2% in q1 compared with previous year, third consecutive decline. https://t.co/BDri9lLIXP pic.twitter.com/ZoSuE65x9AMajor downside of strong UK job growth is persistently weak labour productivity. Output per hour down 0.2% in q1 compared with previous year, third consecutive decline. https://t.co/BDri9lLIXP pic.twitter.com/ZoSuE65x9A
John McDonnell MP, Labour’s Shadow Chancellor, blames the “do-nothing Government”.John McDonnell MP, Labour’s Shadow Chancellor, blames the “do-nothing Government”.
“With business investment also falling and wages still lower than a decade ago, we have an economy in a state of neglect, damaged by years of Tory mismanagement.“With business investment also falling and wages still lower than a decade ago, we have an economy in a state of neglect, damaged by years of Tory mismanagement.
This Government is falling apart, but it must not bring the economy down with it.”This Government is falling apart, but it must not bring the economy down with it.”
The Young Women’s Trust has also warned that young people, particularly those with children, face a tough task in the current economic climate:The Young Women’s Trust has also warned that young people, particularly those with children, face a tough task in the current economic climate:
Communications and campaigns director Joe Levenson says:Communications and campaigns director Joe Levenson says:
“Today’s data shows a fall in young women’s unemployment and economic inactivity, which is welcome news.“Today’s data shows a fall in young women’s unemployment and economic inactivity, which is welcome news.
“Wage growth, however, has slowed and we remain concerned about young people getting stuck on low pay.“Wage growth, however, has slowed and we remain concerned about young people getting stuck on low pay.
“We know that young women are already struggling to get by – and this will only make it harder. Many face inescapable debt, a battle to put food on the table and, in some cases, are having to leave work as an hour’s childcare costs more than an hour’s wages.“We know that young women are already struggling to get by – and this will only make it harder. Many face inescapable debt, a battle to put food on the table and, in some cases, are having to leave work as an hour’s childcare costs more than an hour’s wages.
“Young people need hope for a more secure financial future. That means extending the Government’s National Living Wage to under-25s, so they can keep up with the cost of living, and giving them the skills to get good jobs.“Young people need hope for a more secure financial future. That means extending the Government’s National Living Wage to under-25s, so they can keep up with the cost of living, and giving them the skills to get good jobs.
The news that Britain’s unemployment rate is the lowest since Harold Wilson ran the country won’t cheer the four million people who are trapped in poverty, despite working.The news that Britain’s unemployment rate is the lowest since Harold Wilson ran the country won’t cheer the four million people who are trapped in poverty, despite working.
The classic relationship between unemployment and wages (when one goes down, the other goes up) seems to have broken down badly, especially for those struggling the most.The classic relationship between unemployment and wages (when one goes down, the other goes up) seems to have broken down badly, especially for those struggling the most.
Reporter Josephine Moulds met with one of those people -- 34-year old single mother Gemma. She’s spoken about the battle to stay afloat while earning £399.69 a month as a cashier at Betfred.Reporter Josephine Moulds met with one of those people -- 34-year old single mother Gemma. She’s spoken about the battle to stay afloat while earning £399.69 a month as a cashier at Betfred.
Even with tax credits and child benefit topping up her meagre wages, it was a constant struggle to pay for the essentials and Gemma fell behind on her bills. She was already receiving letters, phone calls, texts and emails threatening legal action over previous unpaid bills, as well as £400 of benefit overpayments that had to be repaid.Even with tax credits and child benefit topping up her meagre wages, it was a constant struggle to pay for the essentials and Gemma fell behind on her bills. She was already receiving letters, phone calls, texts and emails threatening legal action over previous unpaid bills, as well as £400 of benefit overpayments that had to be repaid.
Her son’s birthday was an added pressure but, she says with a weak smile: “I always seem to pull it out of the bag somehow.” Having scraped through the month, she then put whatever she could afford – usually about £20 – towards her debts.Her son’s birthday was an added pressure but, she says with a weak smile: “I always seem to pull it out of the bag somehow.” Having scraped through the month, she then put whatever she could afford – usually about £20 – towards her debts.
In the end, the battle to juggle a changing shift patten with caring for a young child proved too much. Here’s the full story:In the end, the battle to juggle a changing shift patten with caring for a young child proved too much. Here’s the full story:
'You can’t really win': 4m Britons in poverty despite having jobs'You can’t really win': 4m Britons in poverty despite having jobs
TUC General Secretary Frances O’Grady is concerned that wage growth slowed last month (to just 1.3%, including bonuses, after inflation).TUC General Secretary Frances O’Grady is concerned that wage growth slowed last month (to just 1.3%, including bonuses, after inflation).
She says:She says:
“Pay growth is stalling again. The last thing workers need is another hit in the pocket when real wages are still lower than a decade ago.“Pay growth is stalling again. The last thing workers need is another hit in the pocket when real wages are still lower than a decade ago.
“The government must raise the minimum wage to £10 as quickly as possible. And give unions the freedom to enter every workplace to negotiate fair pay rises.““The government must raise the minimum wage to £10 as quickly as possible. And give unions the freedom to enter every workplace to negotiate fair pay rises.“
Today’s jobs report also shows how the rise in women’s retirement age is keeping hundreds of thousands of people working longer.Today’s jobs report also shows how the rise in women’s retirement age is keeping hundreds of thousands of people working longer.
The ONS reports that the number of women classed as economically inactive has fallen sharply since 2014.The ONS reports that the number of women classed as economically inactive has fallen sharply since 2014.
That includes:That includes:
women looking after the family or home (down 254,000)women looking after the family or home (down 254,000)
women taking early retirement (down 239,000)women taking early retirement (down 239,000)
women looking after the family or home (down 254,000)women looking after the family or home (down 254,000)
women taking early retirement (down 239,000)women taking early retirement (down 239,000)
The ONS says:The ONS says:
This reflects ongoing changes to the State Pension age, resulting in fewer women retiring between the ages of 60 and 65 years, as well as more women in younger age groups participating in the labour market.This reflects ongoing changes to the State Pension age, resulting in fewer women retiring between the ages of 60 and 65 years, as well as more women in younger age groups participating in the labour market.
We learned last month that the number of women over 50 in employment has hit a record high, which experts attributed to the increase in the state pension age to 65, from 60 a few years ago.We learned last month that the number of women over 50 in employment has hit a record high, which experts attributed to the increase in the state pension age to 65, from 60 a few years ago.
That sparked the WASPI campaign - with women born in the 1950s saying they weren’t given proper notice of the changes, leaving them facing financial problems.That sparked the WASPI campaign - with women born in the 1950s saying they weren’t given proper notice of the changes, leaving them facing financial problems.
Rise in women’s state pension age prompts poverty concernsRise in women’s state pension age prompts poverty concerns
Today’s jobs report also shows that EU (excluding UK) and non-EU nationals took almost half of the new jobs created in the UK in the last year.Today’s jobs report also shows that EU (excluding UK) and non-EU nationals took almost half of the new jobs created in the UK in the last year.
Here’s the details:Here’s the details:
UK nationals working in the UK increased by 190,000 to 28.94 millionUK nationals working in the UK increased by 190,000 to 28.94 million
EU nationals working in the UK increased by 98,000 to 2.38 millionEU nationals working in the UK increased by 98,000 to 2.38 million
non-EU nationals working in the UK increased by 80,000 to 1.32 millionnon-EU nationals working in the UK increased by 80,000 to 1.32 million
Gerwyn Davies, senior labour market analyst at HR body CIPD, says workers from outside the EU are helping to fill important vacancies in, for example, the NHS.Gerwyn Davies, senior labour market analyst at HR body CIPD, says workers from outside the EU are helping to fill important vacancies in, for example, the NHS.
He writes:He writes:
“It is easy to see why employers have turned to non-EU workers in relatively large numbers against the backdrop of a tightening labour market. What’s more, contrary to some recent reports, virtually all of the employment growth during the past year has come from skilled, permanent, full-time jobs. This has allowed employers to largely overcome the restrictions they encounter when recruiting non-EU workers that do not currently apply to EU workers.“It is easy to see why employers have turned to non-EU workers in relatively large numbers against the backdrop of a tightening labour market. What’s more, contrary to some recent reports, virtually all of the employment growth during the past year has come from skilled, permanent, full-time jobs. This has allowed employers to largely overcome the restrictions they encounter when recruiting non-EU workers that do not currently apply to EU workers.
Non-EU workers are therefore playing a key, complementary role in the UK workforce; especially in sectors such as healthcare. Looking ahead, the data may herald a structural shift towards hiring more non-EU workers when restrictions are loosened for non-EU workers and tightened for EU workers from 2021.”Non-EU workers are therefore playing a key, complementary role in the UK workforce; especially in sectors such as healthcare. Looking ahead, the data may herald a structural shift towards hiring more non-EU workers when restrictions are loosened for non-EU workers and tightened for EU workers from 2021.”
Davies also suggests that this trend is keeping wage growth down:Davies also suggests that this trend is keeping wage growth down:
“The relatively sharp growth in the number of non-UK born workers in employment has also acted as a brake on salaries rising more quickly; especially in shortage occupations. This will come as a relief to employers who have been subjected to increasing pressure from workers to raise pay without accompanying productivity growth.“The relatively sharp growth in the number of non-UK born workers in employment has also acted as a brake on salaries rising more quickly; especially in shortage occupations. This will come as a relief to employers who have been subjected to increasing pressure from workers to raise pay without accompanying productivity growth.
The proportion of UK adults classed as economically inactive (not in work or seeking employment) has dropped to 20.8%, close to a record low.The proportion of UK adults classed as economically inactive (not in work or seeking employment) has dropped to 20.8%, close to a record low.
This is down to a drop in students, reports economist Rupert Seggins.This is down to a drop in students, reports economist Rupert Seggins.
Number of people not in work & not looking for work (termed: "inactive") was 69k lower than in 2018 Q1. Mainly down to fewer students. Building on a point from @billwells_1 last month, note that numbers of LT sick & "other" (poss. link to Univ. Credit rollout) have been rising. pic.twitter.com/SbXq1SCgmlNumber of people not in work & not looking for work (termed: "inactive") was 69k lower than in 2018 Q1. Mainly down to fewer students. Building on a point from @billwells_1 last month, note that numbers of LT sick & "other" (poss. link to Univ. Credit rollout) have been rising. pic.twitter.com/SbXq1SCgml
There are now 32.70 million people in employment, 354,000 more than a year ago.There are now 32.70 million people in employment, 354,000 more than a year ago.
That helped push the employment rate to a joint record-high of 76.1%, impressive given the uncertainty over Britain’s exit from the EU.That helped push the employment rate to a joint record-high of 76.1%, impressive given the uncertainty over Britain’s exit from the EU.
Andrew Wishart of Capital Economics suspects that Brexit uncertainty may have forced companies to hire staff:Andrew Wishart of Capital Economics suspects that Brexit uncertainty may have forced companies to hire staff:
The continued strength of employment in the first quarter of 2019 probably reflects heightened economic activity as firms brought forward purchases and output in preparation for a possible no-deal Brexit. Now that risk has passed, activity and employment growth are likely to soften.The continued strength of employment in the first quarter of 2019 probably reflects heightened economic activity as firms brought forward purchases and output in preparation for a possible no-deal Brexit. Now that risk has passed, activity and employment growth are likely to soften.
Employment minister Alok Sharma has hailed today’s drop in unemployment to just 3.8%, but also warned that workers need to improve their skills.Employment minister Alok Sharma has hailed today’s drop in unemployment to just 3.8%, but also warned that workers need to improve their skills.
Sharma says:Sharma says:
“Rising wages and booming higher-skilled employment means better prospects for thousands of families, and with youth unemployment halving since 2010, we are creating opportunities for all generations.“Rising wages and booming higher-skilled employment means better prospects for thousands of families, and with youth unemployment halving since 2010, we are creating opportunities for all generations.
“We now need to shift some of our focus to up-skilling people and supporting them into roles with real career progression to create a modern workforce fit for the challenges of the 21st Century.”“We now need to shift some of our focus to up-skilling people and supporting them into roles with real career progression to create a modern workforce fit for the challenges of the 21st Century.”
This chart shows how wage growth weakened a little last month, particularly for those lucky enough to get a bonus (their earnings growth fell from 3.5% to 3.2%):This chart shows how wage growth weakened a little last month, particularly for those lucky enough to get a bonus (their earnings growth fell from 3.5% to 3.2%):
At first glance, today’s drop in unemployment suggests Britain’s economy is shrugging off Brexit uncertainty and marching onwards.At first glance, today’s drop in unemployment suggests Britain’s economy is shrugging off Brexit uncertainty and marching onwards.
But actually, some firms are hiring rather than investing in expensive new machinery. Why? Because it’s cheaper and easier to lay off staff if a no-deal Brexit suddenly blows a hole in your supply chain, or leaves you struggling to export.But actually, some firms are hiring rather than investing in expensive new machinery. Why? Because it’s cheaper and easier to lay off staff if a no-deal Brexit suddenly blows a hole in your supply chain, or leaves you struggling to export.
Tom Stevenson, investment director for Personal Investing at Fidelity International, explains:Tom Stevenson, investment director for Personal Investing at Fidelity International, explains:
The murky outlook is leading businesses to hire now with the option to fire later rather than make irreversible investments in new kit. Perhaps it is still too soon to get ahead of ourselves, though - a week before new inflation data, there’s a question mark over how real the earnings growth is.The murky outlook is leading businesses to hire now with the option to fire later rather than make irreversible investments in new kit. Perhaps it is still too soon to get ahead of ourselves, though - a week before new inflation data, there’s a question mark over how real the earnings growth is.
Rising wages are bound in due course to feed through into wider price rises.Rising wages are bound in due course to feed through into wider price rises.