Lack of pension debate shows our priorities are wrong

As has been the case on a very consistent basis over the past couple of years, the overwhelming majority of short-term indicators of economic activity continue to evolve in a positive manner.

In May, the unemployment rate fell to 7.8% of the labour force and the seasonally adjusted number of people who are willing and able to work and who cannot find a job fell to 169,700.

This represents a decline of 38,300 over the past year and is 157,700 lower than the peak level of unemployment in December 2011.