"They don't know what they're going to do, so they play around on the fringes, it's like watching a business which has a real fundamental problem, and the CEO is saying 'what colour packaging should we use'."
While slowing growth is one issue, the underlying cause is of even more direct concern to Britain's workers. Not only has the pound's decline since the vote to leave the European Union boosted inflation but, to make matters worse, wage growth hasn't picked up enough to keep pace. That means a drop in real earnings for households.
Good news is somewhat tainted by the composition of the labour market, with a dramatic shift toward lower-paying and less secure work.