Thursday, May 22, 2008
The lagging indicator of the economic health rears its ugly head... Unemployment
Telegraph Online: Unemployment to rise sharply this year, warns Bank of England
Unemployment could increase sharply this year, economists have warned, after an influential report showed more firms were looking to fire staff than at any point for last 11 years.
Posted by inthedelhi @ 09:46 AM (325 views) Add Comment
4 Comments
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1. voiceofreason said...
And about 6 months afterwards, expect many forced sellers of property.
That is when HPC will really start to kick in.
Falls will last well into 2010.
2. need-a-crash said...
Rising unemployment is the key to HPC and as a lagging indicator I'd say we're due some bad news either after Q2 or Q3 2008 that is to say July or October. Sad though it is to want people to lose their jobs, but then if the government hadn't allowed our economy to be built on debt in the first place....
3. Landedgentry said...
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” Darwin.
4. Fed Up said...
'Last week, Northern Foods, one of Marks & Spencer's biggest suppliers, announced it was closing a pasta factory in Lincolnshire, which employs 730 staff, because it was unable to cope with the soaring global wheat prices. '
Don't wish to sound xenophobic, but how many of these staff are natives and how many are migrant workers? Rising unemployment means that fewer Eastern Europeans will come here and those that do will have greater difficulty obtaining work, so shouldn't stay as long.