Eh?!
'What's this, boss?'
I don't know.
Wealth Club Logo Signature
'What's that?!'
I don't know, Voice! FFS.
For immediate release, 13th February 2024
All right.
UK Labour Market: running hot - but is that strength or underlying ill-health?
Oh, okay.
'Is this from Wealth Club?'
Yes!
The employment rate came in at 75%, up slightly on the previous quarter
Unemployment came in at 3.8%, versus 4.2% in the three months to November and market expectations of 4.0% (Trading Economics)
Economic Inactivity was unchanged quarter-on-quarter at 21.9%
Annual wage growth came in at 5.8%, versus 6.7% in the three months to November and market expectations of 5.6% (Trading Economics)
Okay.
And what does our Nicky say?
Nicholas Hyett, Investment Manager at Wealth Club, comments:
"With unemployment a touch lower than expected and annual wage growth a touch higher, the UK labour market is proving stronger than economists had expected. However, the high temperature of the UK labour market could be down to ill-health rather than a sign of peak physical fitness.
"A growing proportion of the UK workforce, more than one in five, is economically inactive, with an historically high number signed off long-term sick. A shrinking workforce is increasing demand for those workers who are available and pushing up wages. Good news for those in work, but not so positive for the economy as a whole.
"Improving our national health is likely to become an increasing focus as we go through this election year. Not only for its own sake, but as a cure for the higher inflation and weaker economic growth the UK has been experiencing recently. No mean task for an NHS already under pressure."
Yeah, yeah.
Listen, Nicky, we're all doomed. Seriously.
'You tell him, Mikey!'
I just told him.
Unless we're in the sea, like. For all eternity.
'What?!'
ENDS
ENDS
ENDS
...
Anyway, let's get on to the dolphin people.
'The dolphin people?'
Yeah. I had one of my visionary dreams last night, Voice.
'Nice one!'
Anyway, I dreamt I was at a party at this house in St Ives. I was sitting on the sofa. To start off with, there were only three or four "people", but more kept turning up until there were about thirty or forty. Anyway, these people were ... peculiar, man. I mean, really friendly, very innocent in their behaviour, and they had these strange faces and haircuts. I started to feel uneasy in the dream because I got the impression they were "beings" of some kind that were only posing as humans. Anyway, we left the house after a while, and we all got into a coach that was taking us to a local beach ...
I started to get anxiety about the situation though, so after a minute or two, I made my excuses and left. I got off the coach, saying that there was something I needed to do. They took it well.
Then I woke up, and spent the next hour thinking about the dream.
'What conclusion did you come to?'
Man, there's no way they were human! I'm pretty sure they were dolphins disguised as people. (Probably astral or cosmic dolphins. Spiritual aristocrats to a fish! 'They're mammals.' Whatever.) They were going to the beach, and - with the best intentions - were planning to take me into the sea with them. BUT(!) ... I'm convinced I would have died in my sleep had I gone with them.
'Okay.'
Laters, kooks!
'Ha! Bye!'
ENDS
ENDS
ENDS
