The jobs engine isn’t working any more and we need the economic tools to fix it

The employment rate might look good but the outlook is far from rosy, with sluggish wages, rising inflation, soaring prices, dwindling spending power, and poverty and inequality looming for low-paid Britons

Piece by piece, Britain’s jobs-creating machine in the years of economic recovery since the financial crisis appears to be coming unstuck.

Dating back to early 2012, the number of people in employment has been on an upward curve – to fanfare from the Conservatives, who readily quote the 3 million jobs created since they came to power in 2010. But Theresa May should be worried, after figures from the Office for National Statistics last week showed the jobs engine has now chugged into reverse.

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