What's good about the employment data?

When the latest unemployment figures came out, they were welcomed as good news by almost everyone. But look a little deeper, and there are some truly hideous numbers.

When the unemployment numbers for the UK came out this morning they were welcomed as good news by almost everyone.

And in a way they were the headline number had it that total unemployment for the three months to November stood at 2.46m. That's 7,000 down on the previous number, making the rate of unemployment a mere 7.8%.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.