UK inflation: doubts behind the jobless numbers

Article Abstract:

UK unemployment is dropping in fall 1996 and there is concern that this couldlead to wage inflation. Some people have simply dropped ou of the labor market so a drop in unemployment does not automatically lead to wage inflation. Part-time jobs have been created at a faster rate than full-time jobs since 1992, and this implies hidden unemployment if the part-timers want full-time work. Yet this applies to only 13.5% of part-timers, according to a government survey. There is also a debate on data for earnings rises since government figures contradict those of the Confederation of British Industry.

Unemployment

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UK money supply: money's message

Article Abstract:

The Bank of England is concerned that a change in the composition of broad money or M4 could create inflationary pressures. Companies and households have increased their money holdings, while financial institutions have slowed their growth of bank deposits. The risk of inflation depends on a number of factors such as the extent of spare capacity in the economy, the willingness of people to hold funds and the extent to which they will be spent on financial assets rather than goods and services.

Money supply

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