Wednesday, 18 February 2015

Poor economic recovery in Medway???

Today the Medway Labour twitter feed posted the following tweet and graph.

Now I'm not an economist, nor am I a mathematical whizz especially as it took me 3 attempts to get a C at GCSE having wracked up two Ds on the higher paper. One thing I did learn was graphs, in fact I love graphs and they can be used to show anything without resorting to dull tables.

What I see when I look at this graph is falling unemployment in the Medway towns across 2014. See the Orange line slowly descending? 

When we get to January '15 it does raise, I'll give them that, but only a small amount considering the number from which it fell in January last year.

What can we tell from this? Not much. 

We don't know if this is a continuing trend as February's figures aren't out yet. It could be a case of seasonal workers who were employed in retail expressly for the Christmas period, which now apparently starts in August or September, have been let go. I certainly would not say that this was a true indicator of a poor economic recovery in fact looking at this graph alone all you can say for certain is that unemployment is still down on what it was last year.

Is Labour trying to find a cloud on a silver lining? 

No comments:

Post a Comment