unemployment down again to 5.2%, page-22

Just because people have jobs, doesn't mean that they can afford the most expensive housing in the world. So far so good of course.

But rising employment levels do only one thing. Place extra pressure on interest rates. It has been said that the natural level of employment should only be around 95%. Any higher than this creates wage pressure and increasing inflation which leads to higher interest rates.

I believe a lot has to be said about Labour governments. The government hand outs are only coming back to roost now. Plus the recent article about Government employee wage pressure. This will put pressure on inflation and further pressure on interest rates.

So just because you have a job doesn't mean you can ask for a pay rise because interest rates are going up.