Working it

摘要

Improbable as it seemed a year ago, the British economy is now the envy of the rich world. On January 21st the imf predicted growth of 2.4% in 2014. Among large advanced economies only America is expected to do better. Firms are rushing to take on staff, sending the unemployment rate tumbling-and creating a conundrum for the Bank of England. Despite a deep, prolonged slump, British unemployment never reached the double-digit heights that afflicted America and the periphery of continental Europe. But, even as the economy began to heal, the unemployment rate failed to fall much. That changed last year. The unemployment rate sank from 7.8% in May to 7.4% in September. Official figures released on January 22nd show another steep fall in the three months to October, to 7.1%.