Anomaly UK gets it exactly right.
It’s all Bastiat you see (or, to be precise, it’s what you don’t see).
Well Spotted!
In
2 responses
-
The only question to ask to clarify this theory is how many of the Net jobs being created are real?
Is it a case of someone in a public sector role being given an additional title and along the line it becomes a separate job?
Also, without the loss figure being available, it makes it very difficult to justify the argument – not its validity, but its percentage effect. Comparing Wales and England in this respect has always been a very difficult prospect! 🙂 -
It’s a lower bound. What the National Statistics report says is that 17000 more people were in employment in Wales at the end of the quarter than at the beginning. Some number of jobs were lost during that period, so the number of jobs created must be that number plus 17000. Then again, some of the jobs lost might not have been really lost, but renamed or moved from one firm to another, so what the real number of total created jobs was could be a matter of opinion, even if the job loss statistics were to hand, which they aren’t. The real number might be 3000 per day for all I know, but I’ve no evidence for that; all I can say is that the minimum number is the 17000, or 300 per working day on average. Even that lower bound is high enough to make my point that 300 job losses in four months is small compared to the effect of minor fluctuations in the job creation rate.
Leave a Reply