Thursday, 22 February 2018
More Brexit Bounty - it just keeps coming
More Brexit good news this week.
As the stats above from migration watch show, finally immigration is on a downward trend. Clearly, there still along way to go to get back to something like a sustainable level under 100,000, but still progress.
In related and entirely unsurprising news, we also have seen this week that wage growth in picking up - notably amongst the lowest paid. Sir Stuart Rose was right in the referendum campaign after all, Brexit is good for the lowest paid (he was trying to defend the remain side if you recall...oh, what fun the campaigning was!)
Unemployment is fractionally up, a sign of things to come I think as our fast growing population is going to generate a lot of new entrants over the next few years, whereas our average economic growth will generate slightly less as wage increases stop companies from using cheap labour over investment as their business model of choice.
And of course, exports are at all time highs to Europe and elsewhere in the world, on the back of a week pound. However, that benefit of Brexit is wearing off and will be gone if the Government agree any kind of basic Brexit deal or better then the Pound will shoot up.