Which is most unkind of them for that\’s our specialty:
In fairness, the professor is not alone in failing to understand the jobs market. With record numbers now in work – 29.59 million – and the claimant count falling for three months in a row, the buoyancy of Britain’s labour force has confounded Tax Research UK, much loved by Left-of-centre media, which in 2010 predicted: “UK unemployment will increase to at least four million if the Coalition Government continues with its programme of cuts.”
Tee Hee.
And as to what is actually happening:
In summary, the British economy’s most recent data show that we’ve just experienced the fastest quarterly growth in five years, employment is going up, unemployment is coming down, public-sector borrowing is falling; pay in both the public and private sectors is rising, inflation is fading (though still above target), retail sales are positive, as are new car registrations.
His post on October 17 (about Chakrabortty’s chart in the Guardian) says he still stands by his forecast.
If there is no timescale attached, it seems a fairly safe one …
Of course he stands by it, Frances. His whole thing is that he is right and anyone, or any data, that disagrees with him must therefore be wrong.
I think he is suffering from narcissist personality disorder (exaggerated sense of his own self-importance, an expectation that he be recognised as superior without commensurate achievements, a preoccupation with fantasies of his own unlimited brilliance, a requirement for adulation, and exhibition of arrogant and patronising behaviour).