So far, there are absolutely no signs of jobs creation here with employment PMIs indicators:- Services - October reading (latest so far) at 46.2 - well below expansion 50+) and declining on September reading of 49.8; and
- Manufacturing - November reading at 49.3, signaling worsening performance from already contractionary 49.8 in October.
I think that things will worsen first in Europe, for several years, before they improve. Heavy regulations, taxation and welfarism have become too heavy for many productive sectors of the economy. It is better for them perhaps to lie low a bit, or move operations elsewhere like Eastern Europe and Asia.
ReplyDeleteCon, bit OT but could you work something out? I read somewhere that the cost of the "bailout" will be €54k per household. If you strip out households that only accomodate the retired, those on welfare, and those working but only on the minimum wage, how high does the figure rise to for those remaining? Thanks, J
ReplyDeleteJ - will do that in a post later today - good question.
ReplyDeleteThanks, it's just that I was wondering what the REAL burden will be for those of us "lucky" to be able to contribute. Keep up the good work, J.
ReplyDeleteIf at the election instead of choosing another party we could choose another system instead of government.. definetly poor value for money.
ReplyDelete