Real Estate Investor Magazine South Africa June 2014 | Page 57

OFFSHORE
Such a fall in unemployment would normally be
expected to push inflation higher. But Officials led by
Carney set out several reasons why they don’t think that
will happen in this instance.
For one thing, Mr Carney and his colleagues
believe the labour market contains ‘pockets of slack’
bearing down on prices that aren’t captured by
overall unemployment.
Surveys show many workers aren’t working as many
hours as they would like and others have joined the
ranks of the self-employed while they search for a fulltime job. May’s forecasts also show officials believe that
the long-term unemployed may re-enter the workforce
as the economy starts