Ultimately, what matters for the well-being of individuals is not that they are employed as such, but their purchasing power in terms of the goods and services that they earn.
Deflation can never repair the damage of a prior inflation. It would be like running someone over with a car, and then trying to fix the situation by backing up over the person again.
The Labour Party wants the Bank of England to actively promote certain industries over others, not realizing that the Bank has already been doing this indirectly for decades.
