This is probably going to be an unpopular opinion, but...
Despite this is clearly an intermediate situation and things are not definitive... This looks good. Very good.
Think about it:
1- unemployment fell straight down (it's easier to find a job)
2- housing prices fell down (it's easier to afford a better house, and easier to buy one!)
3- employers have lost a source of low-wage workers and are now rising hourly wages
So, so far it's easier to find a job, you get to get paid more and you have to spend less on housing (which is usually one of the bigger cuts of your salary).
Of course, the same old argument: "Locals worry about who will care for the elderly and wait on tables in restaurants if migrants continue to leave". With rising salaries and plummeting housing prices, locals will probably approach those jobs again. If you can make a good living where you were born, some will likely stay.
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Excerpts from the link, relative to the above points:
1- "Unemployment has fallen to 3.6%, below the national and regional levels, allowing some workers to drive harder bargains."
2- "Demand for low-end rented properties has fallen. In Harrogate, prices in this segment grew at half the regional average between 2014 and 2017"
3- "Though real median wages in Harrogate have not changed much since 2014, at the lower end they have risen by 9%"
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If we have to look at the facts... This looks good, imho. For UK people, of course.
Might be, but beside that the author clearly writes: "Some businesses in Harrogate are paying teenagers well above their minimum wage of £4.05 ($5.70) per hour, to tempt them into work".
The NMW is 5.60 for teenagers of normal working wage under 18 there are resections on of the sorts of work teenagers <18 can do as they are all supposed to be at school or in training.
The real NWM is £7.50
Also Harrogate is a posh spa town (like a small town in the Hamptons) so its not typical depressed northern town like say Blackpool or Hull - I suspect the author my have a probrexit agenda.
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[ 3.0 ms ] story [ 15.5 ms ] threadDespite this is clearly an intermediate situation and things are not definitive... This looks good. Very good.
Think about it:
1- unemployment fell straight down (it's easier to find a job)
2- housing prices fell down (it's easier to afford a better house, and easier to buy one!)
3- employers have lost a source of low-wage workers and are now rising hourly wages
So, so far it's easier to find a job, you get to get paid more and you have to spend less on housing (which is usually one of the bigger cuts of your salary).
Of course, the same old argument: "Locals worry about who will care for the elderly and wait on tables in restaurants if migrants continue to leave". With rising salaries and plummeting housing prices, locals will probably approach those jobs again. If you can make a good living where you were born, some will likely stay.
-----------
Excerpts from the link, relative to the above points:
1- "Unemployment has fallen to 3.6%, below the national and regional levels, allowing some workers to drive harder bargains."
2- "Demand for low-end rented properties has fallen. In Harrogate, prices in this segment grew at half the regional average between 2014 and 2017"
3- "Though real median wages in Harrogate have not changed much since 2014, at the lower end they have risen by 9%"
--------------
If we have to look at the facts... This looks good, imho. For UK people, of course.
The real NWM is £7.50
Also Harrogate is a posh spa town (like a small town in the Hamptons) so its not typical depressed northern town like say Blackpool or Hull - I suspect the author my have a probrexit agenda.
Why is this a good thing?