Unemployment just became more important to the rest of us
Henry G Manson on the week’s big economic news This week the new Governor of the Bank of England shifted interest rate setting policy by indicating rates shouldn’t increase until unemployment falls to 7%. Acknowledging unemployment as a key indicator of economic health makes sense, but when Carney examines the breakdown  of unemployment figures in the UK he will see a mixed picture as in the chart. What’s clear is that when the 7% rate is eventually reached it will not…