A year or more ago I wrote in various places that newspaper talk of UK unemployment SOARING to 3million was just tripe: yes it was rising and yes it was getting worse; but soaring it wasn't.
In my inbox today came an email that linked to www.marketoracle.co.uk which reported:
Academic economists producing models in ivory towers detached from the real world FAILED to realise or comprehend the consequences of both the Labour government's employment measures such as the 0.5 million public sector jobs created during the recession ... academic economists still stuck to theoretical models that failed abysmally ...
Read the whole page at www.marketoracle.co.uk/Article20757.html
DW
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