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Podcast: Beyond Currency
Episode: 23 May 2022 - Economy shrinks, despite fall in unemployment
Description: There is a growing sense of inevitability about the slowdown in the activity in the economy, despite the strength of the employment market.
Data released last week showed that the claimant count fell by 56.9k, far more than analysts had expected. However, with inflation reaching 9% and leading indicators of output slowing, there are growing fears that a recession will be almost impossible to avoid.
The cost-of-living crisis that had been feared since the Chancellor announced tax rises last November and rise in the cap on energy prices in response to the exponential rise in the cost of wholesale energy has...