Wednesday, Sep 16, 2009
Jobless rate latest
BBC: UK unemployment climbs to 2.47m
The number of people out of work in the UK has risen again, the latest official figures show. The jobless rate increased by 210,000 to 2.47 million in the three months to July, according to the Office for National Statistics. Claims for unemployment benefit in August grew by 24,400 from July to 1.61m, the highest since May 1997. There have been signs the UK economy is beginning to pick up, but jobless data tends to lag behind other measures.
Posted by jack c @ 09:38 AM (703 views) Add Comment
11 Comments
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1. Cynical_man said...
So, house prices will go up again on this news. Good news for the UK economy then.
2. Spectator said...
Guys - this is HPC fodder.
The housing market currently exists in glorious ignorance of the fundamentals.
Unemployment increasing
Interest rates to rise inevitably
FTBs priced out unless they have 50k to their name
Any amount of Q/E cant stop unemployment as business continually suffer poor sales and let people go.
3. it_is_going_with_a_bang said...
Is this really a suprise? An ecomony built of credit / debt / insanely high house prices comes to a shuddering hault when the easy money runs out - just as anyone could have predicted. Although I will admit I thought the madness would stop a couple of years before it actually did.
A lot of the jobs gone already will not come back - it is a simple fact of life. Manufacturing jobs are unlikely to re-appear in the same numbers. The same can be said of many other jobs that have gone. I would be very suprised if even 50% of the 'lost' jobs come back.
The uncomfortable fact is the country is still operating fine without those jobs and until recently the public sector has been the 'exception'.
Next year this will change and the public sector will have to be culled.
I would wish anyone the best of luck with keeping and/or finding good work that keeps them happy.
4. refusetobuy said...
So at this rate, unemployment should hit the 'magic' 3m by spring, and the house prices should plummet.
5. Smilingfriend said...
not a dent in ftse though!! hail gordon!!
6. mrmickey said...
In the last recession call centres managed to keep a lot of people employed, can't see where a similar source of employment will come from, with the advent of globilization this country's workers have priced themselves out of the market, to compete we will have to accept massive pay cuts or start employing protectionism. America is already moving towards the protectionist route expect the EU to follow.
7. need-a-crash said...
@3 mrmickey. "this country's workers have priced themselves out of the market" I agree but the main reason for this is high house prices. Personally I earn more than enough to live on in terms of essentials, car, holidays, eating out etc. and yet when it comes to affording property I feel like I may as well be unemployed.
8. matt_the_hat said...
Tale of the tape under labour is ridiculous
9. matt_the_hat said...
1 in 5 sixteen-to-mid twenties out of work, these are the future NINJA's (no income, jobs or assets) we are going to use to fight or future undefined enemies.
6,040,000 state workers, the total workforce must be around the 30m marker so 1 in 5 in the "unproductive" sector - puts the USSR to shame!
13,000 more state jobs against a loss of 230,000 private sector last quarter - YOU CANNOT KEEP INCREASING THE UNPRODUCTIVE OVER THE PRODUCTIVE SIDE OF THE ECONOMY!
2,470,000 out of work and only 1.61m claiming benifts the others don't probably meet the means tested benifits, so like the US where you go bankrupt if you get ill due to no fault of your own, in the UK you go bankrupt losing your job through no fault of your own - at least in the USA the taxes are less!!
10. krustyatemyhamster said...
Yeah great idea - get rid of the public sector and then the parisitic private sector company i work for will go bust as we'll no longer be able to flog anything to them. That's productive.
11. shipbuilder said...
I managed to hear a positive spin put on this - apparently the increase was the same as last month so at least the increase is not getting bigger and that was a sign of recovery. If that's the extent of bullish news....